Iceland curbs Bhs plan

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The Independent Online

Iceland, the supermarket group, has dramatically scaled back its plans to open up to 100 mini stores in branches of Bhs following the £200m acquisition of the Bhs chain by the retail entrepreneur Philip Green earlier this year.

Iceland, the supermarket group, has dramatically scaled back its plans to open up to 100 mini stores in branches of Bhs following the £200m acquisition of the Bhs chain by the retail entrepreneur Philip Green earlier this year.

The 11 Iceland stores in Bhs have achieved mixed results and the opening plan is to be reviewed while Mr Green considers his strategy.

Stuart Rose, Iceland's chief executive, said: "There are unlikely to be 100 of them. It will probably be more like 50."

The comments came as Iceland reported a 10 per cent rise in half-year profits to £32m, excluding any contribution from the Booker cash and carry business acquired by Iceland in a £374m all-share deal in June. Mr Rose said the deal was on track to yield £50m of cost savings next year. Iceland shares yesterday rose 10.5p to 304p.

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