- M&S revealed it would pass on increased business costs by hiking clothing prices 3%, while Debenhams forecast prices might rise by up to 5% as currency fluctuations continued.
- Hamleysappointed Gunnar Sigurdsson, director of failed Icelandic investor Baugur, as chairman.
- JJB Sports founder Dave Whelan accused Sports Direct boss Mike Ashley of trying to blacken the name of JJB executive chairman Sir David Jones.
- Tesco chief executive Sir Terry Leahy maintained his position at the top of the Retail Week Power List, while Carpetright founder Lord Harris was the biggest climber, moving 37 places to number 24.
- Asda opened a store in West Yorkshire that it said would be the blueprint for its future store model. Innovations included the first Asda Direct ordering desk, and most tills where self-service.
- John Lewis unveiled a first glimpse of its fashion website, stocking a mix of own-label and brands, while Sainsbury’slaunched non-food online.
- The former bosses of Woolworths and MFI were parachuted in to help Allied Carpets, which had been bought out of pre-pack administration by Hilco the previous week.
- Harrods managing director Michael Ward said only a “congenital idiot” would put up VAT on December 31, following the Government’s refusal to delay the return to the 17.5% rate.
- River Island defied the market to deliver record sales and profits in 2008, with sales up 5.3% and profits up 5.4%.
No comments yet