JD.com

Sainsbury’s ends Argos sale talks with JD.com

Sainsbury’s has ended talks with Chinese retailer JD.com over a potential sale of its Argos business after revised conditions were deemed unacceptable. The supermarket said JD.com was only prepared to continue discussions on “a materially revised set of terms and commitments” that it judged were not in the interests of…

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Today’s news in brief-16/9/24

The New West End Company (NWEC) has reported that the removal of tax-free shopping cost West End retailers £220m in unrealised sales during the first half of 2024. Despite a 3% increase in international tourists visiting London, their spending decreased by 12%. NWEC urges the government to reinstate the tax…

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British Fashion Council partners with JD.com

The British Fashion Council (BFC) has announced a new partnership between the BFC/Vogue Designer Fashion Fund and JD.com Inc., China’s largest retailer with 258.3m customers. With China being the world’s second largest consumer and luxury market and an increased interest from Chinese consumers for British designers, the partnership will allow…

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Today’s news in brief-3/7/24

JD.com is reportedly considering a bid for parcel delivery company Evri, progressing to the second stage of bidding after making a non-binding offer last month. Competing companies include InPost and Cainiao, Alibaba Group’s logistics arm, as well as Apollo Global Management. Evri, formerly Hermes, has been exploring options including a…

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JD.com considers Evri bid

Chinese online retailer JD.com is reportedly considering a bid for parcel delivery company Evri. It is now thought to be in the second stage of bidding after tabling a non-binding offer last month, according to Reuters. Other companies involved in the process include Polish parcel locker firm InPost and Alibaba…

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Currys shareholder calls for mobile phone business sale

Currys shareholder JO Hambro has called upon the business to sell its mobile phone business ID Mobile, according to The Sunday Times. ID Mobile is valued at around £350m and this news follows two failed takeover bids for the electrical retailer. Last month, both US investor Elliott and Chinese retail…

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Today’s news in brief-18/3/24

The Saudi PIF, along with Kering, is reportedly eyeing a stake in Selfridges as the store’s co-owner, Central Group, faces financial struggles due to the collapse of its Austrian partner, Signa. The potential deal, valued around £2bn, is complicated by legal proceedings in Austria. Selfridges reported a narrowed loss and…

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Currys ups profit guidance after takeover bid fails

Currys has revealed that it expects its full-year pre-tax profit to be “at least £115m” after predicting it would land between £105m and £115m earlier in the period. The company stated that this was due to positive like-for-likes and robust gross margins. Furthermore, the company’s disposal of its Greek business…

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Today’s news in brief-26/2/24

Frasers Group has announced the appointment of four new directors to its board, signalling a significant restructuring move. Among the appointees are David Al-Mudallal, the current chief operating officer, and Ger Wright, the managing director of Sports, who are elevated to executive director roles due to their notable contributions. Additionally,…

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Former Prince Andrew aide working on Currys takeover bid

Amanda Thirsk, former aide to Prince Andrew, is reportedly playing a key role in JD.com’s attempted takeover of Currys, according to Sky News. Thirsk, who quit her role as the Duke of York’s private secretary almost four years ago, is currently working in a senior business development role at JD.com.…

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