John Browett, the chief executive of DSG International, Britain’s biggest electrical goods retailer, has admitted to staff that it will take four years before the group recovers to pre-recession levels of trading. The bleak assessment and news of management consultant Accenture’s involvement with…
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Dyson Takes Samsung To Court
Samsung has come up with a three cyclone cleaner which Dyson Technologies is trying to block before it comes on the market. Dyson, with its trademark clear bin and double cyclone, has become the largest manufacturer of vacuum cleaners in the world with a 30 per cent share of the global market.
Capita Launch The Gas Safe Register To Replace CORGI
Capita’s “Gas Safety Register” scheme replaces CORGI’s registration scheme from April 1, 2009, and installers will need to be registered on the scheme to operate legally. Installers can visit the scheme’s new website www.gassaferegister.co.uk launched a few days ago, and from January 19 CORGI reg…
Comet Shares Up, Sales Down
It is reported today that analysts expect news of the worst underlying sales performance in more than a decade at Comet, when the parent company, Kesa, posts its interim results tomorrow. Credit Suisse expects the UK division to register a 13 per cent fall in like-for-like sales for the second qu…
Electrolux Cuts Costs Due To Reduced Demand
As a result of weakening demand for appliances in the two last weeks of November and in December, Electrolux will not reach its outlook for the full year of 2008. In light of the sharp market decline, Electrolux is reducing the number of employees by more than 3,000 in the fourth quarter of 2008 …
Gorenje Warns of 2008 Profit Loss
Slovenian household appliance maker Gorenje said that 2008 group net profit could be below the forecast of €26.5 million by one third due to the global financial crisis. “The negative effect of numerous cancellations of orders in the last weeks and other foreseen negative factors might reach…
Ceramaspeed In Administration!
Worcestershire ceramic hob manufacturer, Ceramaspeed, which employs 300 people has gone into administration. Ceramaspeed, based in Kidderminster, had seen its market decline over recent months, administrators Grant Thornton said in a statement.
Midea to Wholly Control Royalstar
Midea Electric Appliances Co., Ltd. the home appliance maker based in China, announced lately that it planed to buy a 25% stake in the Hefei-based washing machine maker Hefei Royalstar Washing Machine Co., Ltd. (Royalstar). It is an effort to boost Midea’s white goods business. In detail, the com…
Morgan Stanley Says DSG & Comet Likely to Suffer
According to city analysts Morgan Stanley this morning, Marks & Spencer Group Plc, Kesa Electricals Plc and DSG International Plc are the U.K. retailers “most likely to disappoint” this Christmas as earnings come under pressure from lower sales and increased discounting.
Electrolux Review Distribution
Electrolux has launched a review into the viability of its finished goods warehouse and distribution centre in Spennymoor, County Durham, which employs 23 people.