Private equity house Carlyle Group is said to be interested in taking the majority stake in “snacks-by-post” firm Graze. A deal is rumoured to be worth some £50 million, reports the Telegraph.
White Stuff experienced its “most difficult year” in the 52 week period to 28th April 2012. According to the Telegraph, sales were down 11.4 percent to £89.3 million, while pretax losses hit £67 million.
More details have emerged on the Anya Hindmarch deal. As reported on 6th August a Qatari investor has bought a share in the business. The Telegraph sheds more light on the buyer, revealing her identity as Sheikha Mozah, the wife of the Emir of Qatar. Funds linked to Mozah purchased a £27 million stake in the luxury handbag and accessories manufacturer, valuing the business at £70 million.
The Sunday Times speculates that Whistles is
preparing itself for a sale after documents filed at Companies House
show that Jane Shepherdson and the Whistles management team have reduced
the majority stake held by Icelandic bank Glitnir to less than 10
percent. The article also notes that Whistles moved into the black last
year, declaring a £1 million profit on sales of £38 million.
The Sunday Times also has a piece on Square, the mobile payments service that allows customers to pay for goods simply by saying their name. Titled “No cash, no cards: the world’s easiest payment system”, the newspaper describes how users that are Square-registered can walk into a participating shop, restaurant or café, where their name and photograph appear automatically on the retailer’s iPad. To confirm the transaction, the retailer simply verifies that the person making the purchase is the same as in the photo. Square was launched two years ago by Twitter cofounder Jack Dorsey. Last week Starbucks signed up to accept payments by Square.
British consumers spent £6.5 billion online last month, significantly up on last July’s £5.8 billion. According to IMRG estimates, sales were up 17 percent in July 2012, the highest year-on-year growth this year. A mix of sunshine and showers in July helped a variety of sectors, with apparel retailers benefitting from brief sunny spells as well as sales from new autumn ranges, while electricals retailers enjoyed a sales boost thanks to the wet weather and the need for indoor entertainment. The sector was also helped by Brits heading online to buy high-definition televisions and other electrical devices to enjoy the Olympics from home.
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