Footwear Group Stylo has allegedly given the green light to takeover talks and is understood to be open to a possible merger with footwear giant C&J Clark, according to a report in The Mail on Sunday. The newspaper said that the Ziff family behind the Stylo business would except offers with a premium to reflect "100 years of building up the business". There was no comment from Stylo or C&J Clark.
Mosaic Fashions will join the list of retailers hit by festive misery reported the The Sunday Telegraph. Like-for-like sales at the fashion conglomerate which owns Whistles and Oasis, were down into low single digits over a rocky festive period. It is understood that the Karen Millen stores performed well. The Sunday Telegraph added that Sir Tom Hunter's Office chain sales were up by 1% over December, while sales at USC and D2 were flat.
The Sunday Telegraph also reported that New Look is to embark on a massive out-of-town store opening programme this year, launching up to 100 new shops. New Look management believe that New Look can increase store numbers from 580 to 680 over the next 12 months.
Tesco will set the mood for the grocery sector when the retailer unveils results tomorrow. According to a report in The Daily Mail Tesco will announce a 3.8% to 4.5% rise in sales, excluding petrol, for the six weeks to January 6.
Debenhams is expected to surprise critics when it unveils its like-for-like sales over the festive period tomorrow. The Sunday Times said that the retailer is tipped to shrug off the retail sector gloom by trumping the forecasted 2% fall in sales predicted by analysts. Instead, the retailer is expected to report positive sales.