Home Shopping is also Britain's largest catalogue retailer with a market share of around 24%.
0, the next-generation G2, is scheduled for release prior to GUS
was confident of Burberry's performance for the rest of the year, adding that strong trading in Japan and Spain was protecting them from the worldwide slump.
spokesman said it was 'too early to say' whether the transaction would result in job cuts among the nearly 17,500 people currently employed by the businesses.
hopes to save about pounds 20million a year by merging parts of Argos and Homebase.
and will act as dealer manager in connection with the tender offer.
said yesterday that the integration of Jungle into Argos will cost about pounds 10 million, including redundancy charges, IT systems and property write-offs.
services onto Windows NT allows us to benefit from information technologies that did not exist when GUS
development began six years ago," said Mark Catone, VISTA vice president for strategic product development.
He added: 'This move is part of our continuing strategy to bring greater focus to GUS
and allow us to establish a market value for Burberry on behalf of GUS
Some analysts were betting GUS
would raise the stakes as early as next week.
We would expect to be updating the market at an appropriate time in line with our plans for a well organised float for the company on the London Stock Exchange,' he said as GUS
delivered a mix bag of forecasts for the six months ending March.
The stores group is attacking the price policies of GUS
, claiming Argos is cheaper on four fifths of the 6,000 items in its catalogue.
But despite the tail-off, GUS
came in with a group-wide jump in turnover for the six months to September 30, up eight per cent to pounds 2.
It is the first time in 50 years that mail order giant GUS
- which owns Kay's and Innovations - has mounted a hostile bid.
services is a product of an exclusive long-term contract with Insurance Services Office (ISO) of New York to provide certain critical underwriting information to insurance companies via ISO's nationwide telecommunications network.