TV shopping channel and online retailer QVC is
entering the Chinese market via a joint venture with
Beijing-based China National Radio (CNR). The partnership will
see QVC jointly operate a multimedia retailing business in China
through the CNR Mall TV shopping channel and eCommerce website.
Game Group today suspended trading in its shares
and told the City that there was no equity value left in the
company. Earlier this week, The Sunday Times reported that Game faces a £21
million rent payment on Sunday and a £12 million wage bill
at the end of this month. It also owes more than £10 million
in VAT and £40m to suppliers. A new investor would have to
pay up to £100 million to Game’s six banks. MCV weighs up Game’s options.
At Ted Baker, sales for the 52 weeks ended 28th
January were up 14.9 per cent to £215.6 million, while pretax
profit inched up to £24.3 million from £24.2 million
last year. Sales in the UK and Europe retail division were also
up 8.7 per cent to £148.6 million, a solid performance
despite a subdued start to the year and the unseasonably warm
autumn. Ecommerce sales increased by 42.2 per cent to £9.1
million.
The Financial Times reports that jeweller
Tiffany’s & Co has recovered from a weaker than
expected Christmas.
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