The Sunday Telegraph said that Sirt Tom Hunter and Arcadia chief executive Ian Grabiner had sold out of lingerie firm Ultimo for a combined price of £800,000. The deal gives Ulitmo founder Michelle Mone and her husband full control of the business. Hunter and Grabiner rescued the lingerie firm soon after its launch in 1999.
The Sunday Express said Sports Direct could reveal a near-halving of annual profits when its reports its full year results on Thursday. Pre-tax profits are expected to be £80 million against £151m the previous year.
The Sunday Express also said that lingerie specialist Bravissimo saw profits rise to £1.2 million for the year ended August 31 2007, against £850,000 the previous year. Sales rose 26% to £37m.