Tag: Europe

Tibbett & Britten new warehouse fails to deliver -Mothercare issues profits warning

Posted by | Nov 19, 2001 | |

The prospects of a swift recovery at Mothercare came to an abrupt halt yesterday when the company warned it had serious problems at its new warehouse which would hit full-year profits. Stores were running short of stock because of the warehouse hold-ups, and that was being reflected in lost sales. The warehouse is operated by Tibbett & Britten, which has a five-year contract. Mothercare chief executive Chris Martin said Mothercare would raise the issue of compensation once the full costs of the problem had been calculated.

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Sale of LTU stake lets Swissair off the hook

Posted by | Nov 18, 2001 | |

Swissair, the embattled Swiss flag carrier, has agreed the sale of its 49.9 per cent stake in LTU, the German charter airline, for a symbolic E1 in a move that allows it to avoid honouring a financial commitment that could have cost it up to SFr1.3bn ($785m).

Last week the state savings bank of Dusseldorf announced that it would take over Swissair’s 49.9 per cent stake in LTU in a government-orchestrated bail-out that has been heavily criticised by Lufthansa, Germany’s national airline, which competes with LTU through its stake in Condor, a rival charter airline.

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UK Post Office eyes mobile phone venture

Posted by | Nov 16, 2001 | |

Twenty years after it was split from British Telecommunications, the Post Office is considering a mobile phone business as part of its re-entry into telecoms.
Consignia, the state-owned group that runs the Royal Mail, is partnering Sweden’s pan-European telecoms operator, Tele2, to launch a fixed-line service next week that will use Post Office outlets and branding.
It is understood both parties see a mobile phone service as a logical next step if that operation is successful.
The move represents an effort by Consignia to expand its revenue base, which has been hit by the spread of e-mail and private postal companies.

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La Poste opens stock market website, while Livret A savings booklet progresses

Posted by | Nov 16, 2001 | |

La Poste, the French post office, is preparing to complete its range of financial services. On Tuesday it will launch a stock market web site aimed at the general public. Patrick Werner, general manager with responsibility for financial activities and the general public network, says La Poste has a long tradition of customer relations other than on a face-to-face basis, and since customers want to access the group’s services in various ways, the group has to respond.

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