Retail News UK

Marco Capello, the former managing director of Merrill Lynch Global Private Equity, is poised to buy the Liberty business via his investment fund BlueGem Capital Partners.

Card Factory has received bids for the business by several private equity groups that could result in the founders taking home a £400m windfall.

John Lewis Partnership staff are expected to receive around 14% of their annual salary as a bonus as the retailer reveals strong full-year profits.

Marc Bolland is "absolutely the right man" to become chief executive of Marks & Spencer, executive chairman Stuart Rose insisted, hinting that the retailer may be poised for a period of radical change.

Tesco wants its Florence + Fred clothing range to be the biggest global fashion brand within five years, Tesco chief executive of clothing Terry Green told Retail Week Conference delegates.

For Tesco achieve that aim, providing consumers with ever-increasing value for money will be key, Green said.

Former Selfridges chief executive and JJB Sports director Peter Williams has been drafted in to help with the rescue of troubled music business EMI.

The administrators of value clothing chain Ethel Austin and sister homewares retailer Au Naturale have confirmed the closure of 114 stores and 1,048 redundancies.

This follows the announcement earlier this month that 129 shops were to start closing down Sales.

Morrisons chief executive Marc Bolland said this morning that Marks & Spencer was an opportunity he couldn't miss, but he remains dedicated to Morrisons until his last day.

Asda, the Walmart-owned grocery and general merchandise giant, generated profit before tax of £520.4m last year.

Health and beauty group Alliance Boots has reported revenue up 11.6% to £9bn for the six months to September 30 and said it is well positioned for the second half including the key Christmas trading period.