The outlook for Kingfisher is “opaque” its chief executive told investors yesterday after the owner of B&Q and Screwfix reported a decline in like-for-like third-quarter sales in the UK and France. The Telegraph writes that chief exec Ian Cheshire “was not holding his breath” for strong winter sales in Britain. Screwfix, however, continues to be a bright spot for the group, with sales up 10.9 per cent to £149 million during the quarter and retail profit up 19.8 per cent to £14 million.
Losses have narrowed at Dixons, with the UK & Ireland division returning to first half profitability for the first time in five years. EBIT for the unit was £5.6 million in the first half. The company also reported that group multichannel sales rose 29 per cent at Currys and increased 38 per cent in PC World. Although August and September were “a bit quieter”, the company remains “cautiously optimistic” about the outlook for the rest of the year.
Jaeger has revamped its eCommerce and commerce channels across the US, EU and UK markets in order to improve the customer experience and act as a springboard for international expansion in time to capitalise on the crucial festive trading season. The retailer signed a five-year contract with eCommera to use its trading platform, mobile app and browser, and specialist retail practice consultancy.
According to reports PPR is in late-stage talks to sell its mail order arm Redcats to Boston based private equity firm Charlesbank. According to Reuters’ sources, a deal for plus-size apparel brand OneStopPlus will “likely be between $400 million and $500 million”. Earlier this month PPR sold Redcats’ sport and leisure unit to Northern Tool + Equipment for $215 million.
“It isn’t a secret that Net-a-Porter will be publishing a major fashion magazine within the next 12 months or so,” the online retailer’s chief executive Mark Sebba is quoted as saying in Wired magazine.
US clothing retailer J Crew is opening its first store outside of North America, in London. The retailer secured a 17,000-sq-ft location on the corner of Regent Street and New Burlington Street. The site is currently under development and will open its doors in late 2013.
Printing firm Polestar has acquired the business and assets of Benhamgoodheadprint (BGP) and Stones The Printers. The transaction was completed on 28 November 2012. BGP is a high-volume web offset facility based in Bicester printing weekly, monthly and bi-monthly periodical magazines and catalogues with 400 employees. Stones The Printers is a full colour sheetfed printer based in Banbury with 140 employees providing both commercial and periodical publications.
Retail sales rose this month at the fastest pace since June, according to figures from CBI reported in the Independent.
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