Including Sainsbury’s acquisition of Argos moving closer and Beyoncé at Topshop.
The Source rounds up some of the key retail stories of the week.
The board of Home Retail Group has unanimously recommended the acquisition offer made by Sainsbury’s. The grocer offered a package worth £1.4 billion for the Argos owner. The takeover will now be subject to regulatory clearance from various bodies. Sainsbury’s chairman, David Tyler, said that the combined business will offer “a multi-product, multichannel proposition, with fast delivery networks”.
Beyoncé has unveiled her eagerly awaited athleisure collection with Topshop. Called Ivy Park, the range of sportswear-meets-streetwear will be available from the fashion retailer’s stores, as well as at the likes of Net-a-Porter among others.
The Entertainer has teamed up with Hasbro to give customers the chance to meet Optimus Prime. The leader of the Autobots and fellow Transformer Bumblebee will be appearing at the Staines store today (April 1). In addition, the duo will also make an appearance at The Entertainer in Leeds on April 7 and 8.
Morrisons has moved into the UK’s top 20 fashion retailers since launching its Nutmeg clothing label three years ago. The grocer is ranked at number 20, according to latest data from Kantar Worldpanel. Primary is at number one, followed by Asda thanks to its George brand. Tesco’s F&F is at number four, while Sainsbury’s Tu label is at number six.
Tesco is apparently considering a sale of the Giraffe restaurant chain as it increases focus on its core UK supermarket business.
