Retail news round-up on February 6, 2014: SuperGroup “on track for the full year” as like-for-likes edge up, Superdrug owner AS Watson considers relocation of corporate headquarters to UK and more.
SuperGroup “on track for the full year” as like-for-likes edge up
Fashion retailer SuperGroup said it was “on track for the full year” as like-for-likes edged up 1.3% in its third quarter.
The retailer said it supressed top line sales to help support margins as it reduced the level of clearance activity on eBay.Retail sales soared 18.2% to £113.8m and group sales jumped 22.1% to £141.1m in the 13 weeks to January 26.
Superdrug owner AS Watson considers relocation of corporate headquarters to UK
Superdrug’s parent firm AS Watson is looking at moving its headquarters to the UK as part of a tentative plan to list its shares on the London Stock Exchange, Sky News reports. The world’s biggest health and beauty retailer is exploring the idea as it evaluates whether to pursue a joint primary listing in Hong Kong and London. Under rules supervised by the UK Listing Authority, relocating its corporate headquarters to Britain would make it easier to qualify for a premium listing of its shares.
A firm decision about the listing is yet to be made, with Singapore also competing against London to tap a slice of one of the world’s largest retail sector offerings for years, insiders said. Insiders said that AS Watson was mulling approaching former trade minister Lord Davies or former chairman of Vodafone and XStrata Sir John Bond about taking on its chairmanship if it pursues the London flotation.
eBay UK widens baby and toddler category
Mothercare is one of a raft of retailers to team up with eBay for the marketplace’s baby and toddler shop launch as the maternity specialist seeks to claw back share from Amazon. Mamas & Papas, Toys R Us and Argos are among the other retailers that are selling goods in the eBay store, which launched late last month. FMCG giant P&G is selling its Pampers nappies brand directly through the eBay shop, which also features pushchairs, cots, clothing, nursery essentials, nappies and toys.
Danish retailer Norr comes to UK with House of Fraser concessions
Danish fashion retailer Norr has launched in the UK in collaboration with House of Fraser, Fashion United reported. The exclusive partnership has introduced the Scandinavian chain in ‘shop in shop’ spaces within House of Fraser stores in Manchester, Birmingham, Glasgow and Guildford, as well as online. It will extend the range to its Oxford Street flagship and Westfield London store.
Interim examiner appointed by High Court to Irish retailer Elverys
The High Court has appointed Simon Coyle of Mazars as an interim examiner to struggling Irish sports chain Elverys Sports, The Irish Times reported. Elverys existing management and Sports Direct are understood to be vying to buy the chain.