In Brief: Saturday newspapers
Ratner launch delayed; HoF looks to go private
October 26 2002
Stories from the Saturday press
Daily Telegraph
Gerald Ratner is delaying the launch of his new venture, Gerald-online, until April. The website, which will sell branded watches below high street prices, was to be called Ratners-online until listed company Signet – the former Ratners empire – objected to the use of the name. Ratner said: “We didn’t want to push it for Christmas and not have the right watches. Also there have been delays in funding and problems with Signet.”
The Guardian
House of Fraser executives have conducted an internal feasibility study into taking the company private. The management believes that the stock market is undervaluing the business, and that as a private company they would have the freedom to rationalise the store portfolio. House of Fraser has 48 stores but only 75 per cent are regarded as core, generating around 80 per cent of sales. House of Fraser believes that by removing the company from the City’s scrutiny for three years they would be able to improve profits dramatically. A return to the stock market once the store portfolio had been rebalanced would give venture capitalists the profitable exit route they seek.
Barclaycard is facing protests from customers switching to the new Nectar loyalty card after it emerged that reward points built up over many years have halved in value on transfer. Some of Barclaycard’s highest spending customers will lose out if they tried to exchange their points for travel to a number of long haul destinations, including Australia.
