News roundup--Argos, Amazon, TM Lewin

Home Retail Group has appointed former Best Buy executive John Walden as the new managing director for Argos. He will join the business by the end of February. Argos's previous managing director, Sara Weller, stepped down in April 2011.

Six bids have been made for Peacocks, WalesOnline reports. According to the piece, interest for all parts of Peacocks’ business was high.

In the fourth quarter of 2011, to 31st December, Amazon.com saw operating profit plummet 45 percent from $474 million to $260 million and net income decrease 58 percent to $177 million as Amazon used profits to fuel its aggressive expansion plans. For the full year, net sales grew 41 percent to $48.08 billion, compared with $34.20 billion in 2010, while operating income decreased 39 percent to $862 million, compared with $1.41 billion in 2010.

The Advertising Standards Authority has upheld a complaint against TM Lewin about an online promotion it ran in November 2011. Two complainants challenged whether a multibuy offer was misleading because it did not specify clearly enough what the offer was. The ASA ruled consumers could be confused by what was meant by "from 5 for £100... Select any combination of 5 or more" and that it could be interpreted to mean that any combination of shirts could be purchased for £100. TM Lewin agreed to not to feature the promotion again in the current form.

Following the announcement on Monday that Mark Newton-Jones will leave Shop Direct in 18 months’ time, the Liverpool Daily Post has more on the story.