CHECKOUT COUNTER: Higher profits, buyout talks and savings
A weekly round up of the hottest international retail and consumer news. 1. Higher profits on the books for House of Fraser Pretax profits at department chain House of Fraser grew from £1.3m to £3.4m in the year to January 28. The company is owned by Chinese conglomerate Sanpower Group. Like-for-like sales rose 0.9% over the year, while revenue remained flat at £1.3bn. The group warned that the "volatility" it experienced last year had continued into the new financial year. 2. Puma buyout talk does the rounds, again François-Henri Pinault has stepped down from Puma’s board of directors, reviving speculation that parent company Kering could be preparing to sell the German sporting goods firm. Earlier this month, Puma raised its 2017 earnings outlook. The Herzogenaurach-based company is in the fourth year of a turnaround. 3. Unilever seeks savings Unilever will expand branded content arm U-Studio as the fast-moving consumer goods group seeks to save $2.1bn/year. Unilever announced tha...
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