Retail news round-up on January 23, 2015:DFS to target £1bn value with London IPO, Argos accused of racism over price of doll, Screwfix to expand its Northern Ireland operation
DFS to target £1bn value with London IPO
DFS, owned by Advent International, will offer a significant chunk of shares to retail investors targeting a valuation of up to £1bn in a London stock market listing next month. Plans for the floatation will be revealed on or around February 4, it is thought. DFS has been valued at between £600m and £1bn. DFS wants to raise well over £100m from the IPO.
Argos accused of racism over price of doll
Argos has been accused of racism for selling white dolls for £10 more than their equivalent black and Asian ones, The Telegraph reported. It is selling the Asian Yang doll and the black Namia doll for £24.99 whereas the white Maria doll is sold for £34.99. The three dolls made by French firm Corolle Calin and are identical except the colour on their skin. After customer complaints Argos said it was a genuine pricing error.
Screwfix to expand its Northern Ireland operation
Kingfisher-owned Screwfix is eying around a dozen new locations as plans to expand its Northern Ireland operations. According to the latest Lisney Northern Ireland Commercial Property Report, the firm has targeted a total of 18 locations. Screwfix opened four stores in January last year, setting up shop in Belfast, Ballymena, Bangor and Newtownabbey.