Record profits at Firebox
Gifts and gadgets etailer Firebox announced record profits for the year ending 31st January 2010. For the first time in its 12-year history Firebox’s profits have surpassed the £1 million mark. Revenue also rose, up 11.4 percent from £11.4 million in 2009 to £12.7 million last year.

Gems TV UK to be acquired by rival
Colourful Company Group, which operates a TV-shopping channel, the online auction site rocks.tv and jewellery website ColouredRocks.com, has agreed to buy rival TV-shopping business Gems TV UK for £3 million. The loss-making UK operation was a “cash drain” on parent company Gems TV Holdings, which also filed for Chapter 11 bankruptcy protection for its US business in April.

Thorntons chief executive quits
Mike Davies is to leave Thorntons following a profit warning. Davies holds the post of chief executive at the confectionery company, which today announced that sales in-store are continuing to decline.

Orchira extends reach overseas
Orchira pearl jewellery, which recently rebranded from BoBijou, is expanding into the USA. The company, which sells wholesale through retailers and via TV-shopping channels such as Ideal World as well as through its catalogue and website, has signed a deal with New York-based fine-jewellery manufacturer Kuber.

Sales up at M&S
Direct sales at Marks & Spencer were up 27 percent to £413 million in the 53 weeks ended 3rd April. International sales also grew, by 5.7 percent, and now account for 10.2 percent of total group revenues. Operating profit in the international division was up 16.5 percent to £135.3 million. Overall, group sales rose 3.2 percent to £9.3 billion with adjusted pretax profit up 4.6 percent to £632.5 million.

Hotel Chocolat pilots chocolate bonds
Confectioner Hotel Chocolat has found a novel way to raise money. It will sell “chocolate bonds” to its most loyal customers as part of plans to raise £5 million to fund expansion. There will be two values of chocolate bond available—£2,000 and £4,000. Instead of paying interest in cash, bondholders will receive six (or 13 for the £4,000 bond) free boxes of chocolate a year worth £107.70—equivalent to a 5.38 percent return. Hotel Chocolat says customers can get their money out in full after the minimum three-year period.

Kirby leaves Fat Face in management reshuffle
Kristine Kirby, home shopping director at apparel retailer/cataloguer Fat Face has left the business. There were further changes at the company, which confirmed a top-level reshuffle this week: Becky Bateman, head of retail for Topshop and Topman will join the business next month as retail director; Toby Bowhill is promoted to brand director; Dan Miles becomes ecommerce and communications director and Shaun Wills continues as finance director with added responsibility for IT and property. Product architect Lisa Illis has also left the company.

Karen Millen to launch US website
Upscale womenswear brand Karen Millen, part of the Aurora Fashions stable, is to open a US website supported by a US distribution centre by the end of 2010. The launch will be followed by local language websites including German, Dutch, and French sites for Aurora’s other brands: Coast, Oasis, and Warehouse.

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