Arts and crafts retailer Hobbycraft in its full year financial results for the 52 weeks ending 19th February 2012 has shown a 12 percent increase in sales to £106.5 million, up from £95.2 million in 2011, and a 9 percent rise in EBITDA from £14.4 million in 2011 to £15.6 million this year. Hobbycraft also announced that 10 new stores opened during the period, creating over 200 jobs and growing its store portfolio to 61 shops.
The Liverpool Daily Post reports that Shop Direct, the owner of Littlewoods, Very and Isme, delivered a sales rise of just 0.5 percent in the 52 weeks to 30th June, to £1.7 billion. Meanwhile, EBITDA increased 36 percent to £125 million. The results also showed that the group's traditional catalogues Littlewoods, Kays and Gus saw a 9 percent fall in sales, while brands Very and Isme saw sales rise 33 percent and 46 percent, respectively. Further, outgoing chief executive Mark Newton-Jones told the newspaper that 12 percent of sales now come from smartphones or tablets; last year it was 5 percent.
According to Skynews.com struggling online sportswear retailer JJB Sports’ chief executive Keith Jones is set to step down after a string of profit warnings and emergency fundraisings. The report states that Jones, who has been running JJB since March 2010, is expected to leave within days.
Amazon has warned of a possible loss in the current quarter. According to the Telegraph the online marketplace is forecasting a third-quarter revenue of $12.9 billion to $14.3 billion with a third-quarter operating loss of $50 million to $350 million. The loss is attributed to Amazon's investment phase and overseas expansion plans.
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