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Video games retailer Game Group has set its IPO value at £340 million, at the bottom range of expectations.The company will float on the London Stock Exchange on June 11, with shares offered at 200 pence per share, two years after the firm collapsed into administration. It had previously been...

The ex-chairman of Morrisons, Sir Ken Morrison, has attacked its current chief executive Dalton Philips following the company’s recent fall in sales.Sir Ken likened Mr Philips’ plans for the future of the chain to the excrement produced by his herd of cattle.Commenting on the 7.1% drop in sales at the...

Jón Ásgeir Jóhannesson, whose investment vehicle Baugur once controlled stakes in House of Fraser, Karen Millen and French Connection until Iceland’s banking disaster of 2008, may return to the high street after being acquitted of any wrongdoing in a financial legal row.Mr Jóhannesson, whose investments also included stakes in Hamley’s,...

Cycling and car parts retailer Halfords has acquired Boardman Bikes, the cycling business owned by former Olympic champion Chris Boardman.Halfords sells the Boardman Performance Series exclusively in the UK and ROI, with the Boardman Elite Series sold at selected independent cycling retailers in the UK and USA. Both ranges are...

Fashion website ASOS has warned that profits are likely to be below previous expectations, hit by the strength of the pound impacting international sales and increased levels of promotional activity.Shares in the fashion company fell 40% following the announcement, triggering similar share falls at Boohoo, Ocado and Sports Direct.In a...

The UK’s service sector grew at a faster rate than anticipated last month, according to a survey by business analysts Markit and CIPS.The purchasing managers' index (PMI) also indicated that employment in the sector was stable at the 17-year high which it hit in April.The PMI data comes ahead of...

Britain’s fourth biggest grocer, Morrisons, is considering cutting up to 2,000 jobs according to press reports.The Guardian newspaper said that, whilst the company has “no plans for widespread redundancies”, a management shake-up could mean that as many as 2,000 jobs are cut.The company has trialled more streamlined management structures in...

The Sportswear retailer Sports Direct is trialling the brand Helly Hansen and a running concept at its Oxford Street flagship.The store, which opened on May 23rd, has given the business an “opportunity to test out new labels” to gauge consumer reaction.The exclusive dedicated running area offers a variety of technical...

The health and food retailer Holland & Barrett has appointed Point 6 Design as branding and packaging design agency for their fruit, nuts, seeds and snack product range.The new visual design which is expected to launch in store this month is intended to be an in-store impulse line.Sally Forsyth Spark,...

UK Supermarket chain Tesco has reported a 3.7% fall in UK like-for-like sales after being hurt by price cuts and subdued consumer spending.Tesco chief executive Philip Clarke said that sales had been hit by the supermarket's own price cuts, in response to competition from the discounters. He warned investors not...