What the Sunday papers said – July 7, 2008
- Published: 07 July 2008 09:50
- Author: Lisa Berwin
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- Last Updated: 14 July 2008 12:12
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The Daily Express reported that pre-tax profits at lingerie retailer Bravissimo rose to £1.2 million in the year to August 31, 2007, compared with £850,000 the year before. Sales were also up 26 per cent to £37 million for the period.
The paper also said that Sports Direct is expected to reveal that annual profits have fallen by almost half when it updates the City on Thursday.
Marks & Spencer has suspended its £600 million share buy-backs as it reviews the controversial programme, according to The Sunday Telegraph.
The paper also reported that Scottish billionaire Sir Tom Hunter and Arcadia Group's chief operating officer Ian Grabiner have both sold out of lingerie company Ultimo.
Hunter and Grabiner both stepped in with emergency funding when the company collapsed soon after its launch in 1999.
The Sunday Times said that Sainsbury's TU clothing brand has captured 1 per cent of the market with annual sales of £300 million, owing in part to a 100 per cent rise in sales of its lingerie in the past year.
The paper also revealed that home furnishings chain Rosebys is to launch in India under the name Rosebys London.
The Mail on Sunday said that George at Asda is consulting with staff over 30 head office jobs, with House of Fraser to shed about 25 jobs at its headquarters following a review.
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