Breakfast briefing: Retail news on Iceland, Burberry and more

Iceland Foods complains government has no interest in agreement

Supermarket Iceland has accused the Iceland government of "not willing to hold any serious discussion" to reach agreement in a trademark dispute, BBC reported.

The supermarket had sent a delegate to the capital Reykjavik on Friday but no agreement was reached.

Iceland Foods' founder and CEO Malcolm Walker said: "[The talks] got nowhere because it rapidly became clear that the Icelandic authorities have no interest in reaching a compromise.

"We have no real idea why this has suddenly become such a major problem for Iceland (the country)."

The country had launched legal action against the chain, claiming it prevents the nation's firms from describing their products as Icelandic.

Malcolm added: "Iceland Foods had Icelandic majority shareholders and Icelandic representatives on its board for seven years to 2012.

"At no point in all those years did any representative of Iceland (the country) raise the slightest concern about our company's branding".

Burberry turns down takeover bid from Coach

Burberry has rejected multiple takeover offers from US handbag-maker Coach, the Financial Times reported.

The market value of the deal would have been above $20bn (£16m).

The proposals made by Coach were informal and beheld a cash and stock takeover of Burberry. It was not clear at what premium they were made or if Burberry ever engaged in serious talks with Coach.

The companies are no longer in active talks.

Burberry and Coach declined to comment.

UK shop prices decline again

Prices in British shops decreased 1.7% in November owing to a decline in food prices, according to British Retail Consortium, The Telegraph reported.

But economists expect rising cost pressures linked to Brexit are likely to feed into high-street prices next year.

BRC chief executive Helen Dickinson said: "While we may start to see cost pressures beginning to feed through into prices next year, we don't expect any sudden spikes or surges, and the timing and extent of increases will differ from one category and retailer to the next.”

Sports Direct hires new board members

Sports Direct has initiated an effort to repair its tensions with the City by improving corporate governance amid the chain’s worst results in four years, The Telegraph reported.

The company may reveal this week that it has appointed two City figures, who have mixture of retail and finance background, to its board.

Aldi plans to invest €100m in Ireland

Aldi has planned to invest €100m (£83m) in Ireland over the next three years to increase its stores, Irish Independent reported.

The company aims to add 20 new stores, creating 400 new jobs.

Aldi’s head of Irish operations Giles Hurley said: "Our business model is pretty simple. There's not a hugely complex strategy. We want to make a store available to everybody in Ireland.

"Our belief is that by doing that we'll continue to develop our sales and our market share."

The new stores are set to open in Trim, Co Meath; Leixlip, Co Kildare; and Ennistymon, Co Clare, and the company may secure outlets in Dunshaughlin, Co Meath and Graiguenamanagh, Co Kilkenny, Hurley said.