6 September 2000
Iceland scales down mini store plan
By FWi staff
ICELAND has dramatically scaled back plans to open 100 mini stores in branches of the Bhs retail chain, reports The Independent.
The 11 Iceland stores have reported mixed results and the plan is being reviewed while Philip Green , who bought Bhs earlier this year, considers his strategy.
Icleand, which had earlier considered a bid for Bhs, estimates it will have 50 stores in the chain.
This comes as the supermarket group reports a10% half year increase in profits to 32m.
This excludes any contribution from the Booker cash and carry business Iceland bought in a 374m share deal in June.
Iceland shares rose 10.5p to 304p on Tuesday (05 Sep).
- Icelands organic price promise, FWi, 21 March 2000
- Iceland backs off from BhS, FWi, 21 March 2000
- The Independent, 06/09/2000 page 15