This week last year: Rose gathers his dream team

This week last year Stuart Rose gathered together a team of heavyweights, consisting of long-time right-hand-man Charles Wilson, acquisition specialist Alan Jacobs and ex-Arcadia marketing director Steven Sharp. The union sparked speculation that the four could eventually head House of Fraser. No one had any inkling at the time that three of the group would eventually be hired to turn around Marks & Spencer, in response to the acquisition attempt by Philip Green earlier this year.

Big Food Group property director Tim Yates defected to Malcolm Walker-owned Cooltrader. Walker founded Iceland, BFG's principal brand and is now in the frame to head Baugur's offer for the group.

French Connection was forced to rebrand clothing sold by US retailer Federated Department stores, following customer complaints. The FCUK logo was withdrawn and replaced by French Connection United Kingdom. At the time, Federated accounted for about 15 per cent of French Connection's US sales. Following a profit warning last week, speculation rose again over whether the fashion retailer would carry on using the FCUK brand or finally drop the controversial double-entendre.

Retail giant GUS pledged a 30-store Homebase expansion over the next three years. The news came as the group posted a 24 per cent interim sales increase to£3.7 billion, only a year after acquiring the DIY chain for£900 million. Other strategies coming out of the announcement included testing range synergies with mixed merchandising sensation Argos. The strategy seems to have paid off, because with sales increases for both Homebase and Argos, there has been a pledge from the board to accelerate Homebase openings.

Last Christmas, Harrods unveiled its most expensive gift to date. A natural blue diamond called the Blue Empress, estimated at£9 million, was on sale at the Knightsbridge department store. Harrods is in the news again this week for supposedly courting ex-Kingfisher supremo Sir Geoff Mulcahy, and for owner Mohamed al Fayed losing his appeal in the High Court against the Metropolitan Police.

Lastly, M&S chief Roger Holmes was spotted lending a hand to shop staff in the retailer's Bromley store as part of its back-to-the-floor scheme. The experience may come in handy now that he is searching for a new directorial role in retail, following his departure from the troubled legacy brand.