GUS (retailer)
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GUS plc (LSE: [GUS]
The company has several divisions including:
- ARG – The Argos Retail Group, which consists of several subdivisions, including
- *Argos (previously an independent company, previously owned by British American Tobacco) – the UK's largest catalogue retailer
- *Homebase (formerly owned and founded by J Sainsbury) – a DIY (home improvement) retailer
- *ARG Financial Services – provider of store card services, such as the Argos Card and Argos insurance products.
- Experian – a credit checking agency
History
Universal Stores was founded in 1900 as a mail order business in Manchester, England by Abraham and George Rose. In 1930, the company changed its name to The Great Universal Stores Limited. The next year it was listed on the London Stock Exchange. At this stage, it was the leading mail order business in the UK.In 1932, Isaac Wolfson joined the company as merchandise controller. He became joint managing director in the same year. He was Chairman from the late 1940s until his retirement in 1987. Through his wealth gained at Great Universal Stores, he established the Wolfson Foundation in 1955. His son, Leonard Wolfson, followed him as Chairman, to be succeeded by David Wolfson (1996–2000).
In 2001 the company changed its name to GUS plc.
In 2004, the company sold its traditional home shopping (catalogues) division to the Barclay twins, who merged it into their Littlewoods business. This included the iconic Great Universal Stores catalogue, from which the company took its name, and completed the departure of GUS from its original business areas. Around the same time, the Barclay's announced the closure of the Littlewoods Index retail chain, the principal rival to Argos in the UK, selling around 35 stores to Argos.
In May 2005, it announced that it would divest its stake in Burberry by distributing Burberry shares to its own shareholders. It also stated that it planned to demerge Experian from the retail businesses in the future, but wished to retain Experian for a further period to invest in building up the business first.
On 24 March 2006, Gus announced that it had divested its full shareholding in Burberry. On 28 March 2006, it was announced that the Argos Retail Group would be split from the Experian division, with both companies listed separately on the LSE by March 2007. This will effectively mean the end of the GUS conglomerate, which will be de-listed once it shares have been split between the two divisions. There will also be 10-15% new equity issued in Experian. Now the GUS plc head office is located in Milton Keynes central business district.
External links
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