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Dugdale to leave Flying Brands
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| Mark Dugdale will leave Flying Brands before the group’s AGM in April. Dugdale, who is also the chairman of the Catalogue Exchange, has confirmed he has accepted a posted heading up a private company in the multichannel retail sector. Meanwhile Flying Brands has released another profits warning to the City, blaming the weak performance at Flying Flowers for the disappointing results. |
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MBO at Two Wests and Elliot
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| Greenhouse and gardening products direct retailer Two Wests and Elliott has undergone a management buyout worth £600,000. The new owner, Peter Bennett, teamed up with the company’s marketing manager, Lucie Bradley, to buy the business from Bradshaws in conjunction with the Coldfield Investment Fund and funding from Alliance & Leicester Commercial Banks’ South Yorkshire Business Centre. Bennett has been with Two Wests for nearly 30 years, becoming general manager when the business was sold to Bradshaws Direct in 2000. |
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Firm fined for breaching recycling regulations
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| According to the Driffield Post, a Yorkshire-based newspaper, Kingstown Associates has been fined in excess of £13,000 for failing to comply with recycling and waste regulations. The offences occurred between January 2004 and December 2006. |
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Ideal World posts strong sales
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| Ideal Shopping Direct, the operator of TV and online shopping channels, has released its pre-close update for the 52 weeks ending 30th December 2007. Like-for-like sales for the 17-week period to 30th December were up 27.7 percent, taking full year sales to £97 million. The company also increased new customer numbers by 26 percent to 280,000, having recruited 206,000 customers in the second half of the year. Despite a rise in cost of carriage on Freeview, the group expects profits to be in line with expectations. |
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Strong growth at N Brown
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| N Brown Group plc, the parent company of JD Williams, Simply Be, Jacamo and Fashion World, has announced a like-for-like sales rise of 14 percent for the 20 weeks to 12th January 2008. Sales have been now exclusively driven by home shopping activity since the sale of Zendor in December. Online sales rose 48 percent in the period and internet sales now account for 28 percent of total sales. The board is confident that despite the postal strikes and current retail conditions, profit expectations will be met. |
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Latest online shopping figures released
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| More than £15 billion was spent online in the 12-week run-up to Christmas 2007, according to official figures from the IMRG. The electronics sector did particularly well, experiencing sales growth of 60 percent. Clothing sales rose 28 percent, and online sales of wines and spirits grew 20 percent. IMRG also noted that 15 percent of all retail spend was transacted online in 2007. |
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International: Harry & David buys Wolferman’s
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Gourmet foods multichannel retailer Harry & David has bought speciality foods direct marketer Wolferman’s for an undisclosed sum. Wolferman’s signature product is a premium English muffin produced using the same recipe since 1910. It achieved sales of approximately £14 million ($28 million) in 2007. |
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