Embattled greetings-card chain Clinton Cards has suspended trading in its shares following the decision by its largest supplier to force it into administration. Clinton Cards was informed last night that its banks had sold the company's loan facilities to American Greetings, Clinton Cardsí largest supplier. The outstanding indebtedness under such loan facilities is approximately £35 million, which it is unable to pay.
Beauty and cosmetics products etailer Feelunique.com saw earnings more than double in the year ended March 2012. It delivered EBITDA of £1.98 million, 120 percent up on last year, while turnover also grew, by 63 percent, to £26.7 million. The growth is attributed to the companyís successful expansion strategy and integrated marketing campaigns, including a national TV advertising campaign and increased media spend. The Jersey-based company is predicting to grow 76 percent to £46.8 million during the next 12 months, with growth opportunities in the UK and overseas.
DLA Piper has taken the lead case to recover VAT from HM Revenue & Customs in relation to Royal Mail postal services for businesses. In the past, Royal Mailís postal services were exempt from VAT, but a case brought forward by TNT determined that the vast majority of Royal Mailís services should be chargeable. The law firm has succeeded in its application to the first-tier tribunal to bring a lead case to recover more than £220 million of input tax unknowingly paid on postal services. The tribunal takes place in early 2013, allowing businesses wishing to join the lead case to lodge claims with HMRC over the next few months. The CatEX DCA website has more.
Jewellery, bags and accessories marketplace Boticca.com has revealed that Pinterest drives more sales than Facebook--or any other social media channel. Pinterest has influenced 10 percent of transactions on Boticca.com in the past month, versus 7 percent from Facebook, as measured by assisted conversions. Further, the average order value of sales driven by Pinterest to the Boticca.com website is $180, 10 percent higher than the Boticca.com overall site average and 90 percent higher than the AOV of sales driven by Facebook. However, it noted, conversion rate via Pinterest is lower than via other channels; 50 percent lower than Facebook and 73 percent lower than the Boticca overall site average.
Nine out of 10 people feel that the new EU cookie directive is a positive step for consumers, according to the latest eCustomerServiceIndex (eCSI) results from eDigitalResearch and IMRG. Of the 2,000 online consumers surveyed, three quarters (75%) have not heard of the new EU cookie directive. And of those that had, only 16 percent were truly aware of what changes would come into effect on May 26th. Eight percent of respondents had not even heard of cookies.† However, when made aware of what the new directive entails, 89 percent of those surveyed felt that it was a positive step for consumers and 79 percent agreed that the changes were necessary as public knowledge about cookies is limited.†
Next month will see WHSmith launch a white-label subscription website developed by iSubscribe.† The deal sees the stationery, newspapers and magazines retailer extend its product offering to include a broad range of magazine subscriptions as well as newspaper subscriptions, magazines from abroad, holiday brochures and catalogues.
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