Retail news
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Takeover Panel sets timetable for Matalan offer
- Posted:
- 28 July 2006 09:14
Matalan and its group chairman John Hargreaves have accepted a ruling by the Takeover Panel that Mr Hargreaves must announce a decision as to whether he intends to make an offer for Matalan or not by 12:00 on 12th September 2006. Both parties said that it was in the interests ...read more
Next discount brand set for first store?
- Posted:
- 10 July 2006 09:12
Reports have emerged that fashion retailer Next is set to launch a standalone store for its value brand Lime. It is understood that an existing Next store will be converted into a Lime format later this year, although it remains moot whether this is a pilot for a potential roll ...read more
Matalan shareholders vote for Hargreaves at AGM
- Posted:
- 06 July 2006 08:47
John Hargreaves has been re-appointed as executive chairman by shareholders at Matalan’s AGM, despite fears by many investors that he will buy the company at a reduced rate, with plans to take Matalan private. An overwhelming 92% of shareholders voted to return Mr Hargreaves to his position despite the objections ...read more
Matalan like for like sales down
- Posted:
- 05 July 2006 08:52
Matalan has released its AGM trading statement, showing a 1.1% fall in like-for-like growth. Matalan added that the trading environment was "tough" with total sales falling by 0.5%, partly due to the closure of some stores for re-fitting. However, the demand for World Cup related products improved the company’s total ...read more
Matalan's founder plans bid for the company
- Posted:
- 03 July 2006 08:58
Matalan’s founder and chairman John Hargreaves is forming a bid that will take the company private. The bid offer is expected this week, and may be made later today. Matalan has seen profits fall by 55% recently, suffering from the discount clothing ranges offered by supermarkets and high street retailers. ...read more
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