Pumpkin Patch, the New Zealand-based
childrenswear retailer, has put its lossmaking UK division into
administration following a review of its operations. At the same
time, the company says it “will be ramping up” its
existing online activities in the UK. Administrators at Deloitte
have so far closed five of Pumpkin Patch’s 36 UK stores, with the
loss of 60 jobs.
Fashion website ShoeDazzle, which was cofounded
by celebrity Kim Kardashian, is closing down its UK business to
focus on the core operation in the US. Launched in the UK in
September 2011, the site operated a “shoe
subscription” model that promised to offer customers a
personalised shopping experience for £39.95. A statement on
its website said, “Despite the tremendous support that
we’ve received here in the UK, we ultimately decided that at this
time it was in our best interests to focus on the opportunities
in our home market”.
A total of £68 billion was spent online in 2011 in the UK,
of which more than 11 per cent was spent in December alone.
According to figures from the IMRG and Capgemini, British
consumers spent £7.9 billion online in December 2011, a 16.5
per cent year-on-year growth.
Furniture retailer Ikea saw profits soar 10.3
per cent to €2.97 billion (£2.5 billion) in the year
ended August, while revenue grew 6.9 per cent to €25.17
billion (£21.07 billion), writes the
Guardian.
The
Telegraph reports that electricals retailer
Comet delivered a 14.5 per cent drop in
like-for-like sales in the three months to 8th January. Its
current owner Kesa expects to complete its
divestment to OpCapita on 3rd February.
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