Retail news round-up on March 31, 2014: Boohoo.com full year EBITDA soars, Pets at Home launches dog friendly store, House of Fraser in sales talks with Chinese conglomerate and more.
Boohoo.com full year EBITDA soars 200%
Newly fioated etailer Boohoo.com reported that adjusted EBITDA soared over 200% in its year to February 28 in line with market forecasts.
Boohoo.com made £3.9m last year. Unaudited sales for the year is in excess of £109m, jumping 62%.
Pets at Home launches Barkers store format for dogs
Pets at Home has launched a new premium pet store format especially for dogs called Barkers which features a dog spa with Reiki massage.
The new store in Wilmslow, Cheshire trades across 1,200 sq ft. It features a food spa and accessory shop and 80% of the range is exclusive to Barkers.
House of Fraser enters sale talks with Chinese conglomerate
House of Fraser is in talks with Chinese conglomerate Sanpower Group, which is eyeing buying the department store for more than £450m.
Sanpower, which is controlled by controlled by multimillionaire former Chinese government official Yuan Yafei, has been in talks with House of Fraser for several months, according to the Financial Times.
Littlewoods wins £1.2bn tax refund battle
Littlewoods has won a £1.2bn tax refund after a landmark ruling ordered HM Revenue and Customs to pay back an overpayment of VAT.
Home shopping giant Littlewoods made the overpayment between 1973 and 2004.
The case could have significant implications because it takes into account the interest’s compounded value over the years.
Sir Philip Green targets Indian market for Arcadia brands
Arcadia tycoon Sir Philip Green is breaking into the lucrative Indian market by launching a Dorothy Perkins range on online platform Jabong.
Jabong, an Indian rival to Asos, was recently awarded a £20m investment through a British Government fund to support African and South Asian firms.
Meanwhile, the Mail on Sunday reports that Arcadia has held talks with a number of Indian companies about launching ranges from young fashion brands Topshop and Miss Selfridge in the country.
Ocado plots three new distribution centres
Ocado is plotting building up to three new distribution centres across the country to keep up with booming demand.
The online grocer, which also runs Morrisons web business, are understood to have spoken with developers in Manchester and Kent, according to the Mail on Sunday.
Sir Terry Leahy joins board of tyres etailer as it eyes float
Former Tesco chief Sir Terry Leahy has joined the board of online tyre fitting firm Blackcircles.com as it gears up for a possible IPO.
Blackcircles.com, which enables customers to choose their tyres online and book an appointment in one of its 1,200 fitting centre,operates Tesco Tyres and counts Leahy as an investor.
Sales in 2013 surged 20% to £27.8m and profits increased to £1m.