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Fitbug Surges As It Gets Wearables Into Target In US, Sainsbury's In UK

Wed, 22nd Oct 2014 07:15

LONDON (Alliance News) - Fitbug Holdings PLC saw its shares rise sharply early Wednesday after it said US retail chain Target Corp and UK supermarket J Sainsbury PLC will stock Fitbug products in their wearables ranges from November 9, marking the company's largest retail sales agreements to date.

In a statement, the maker of wearable devices and apps that encourage fitness and wellbeing, said its products will be stocked in all of Target's 1,800 stores as well as on Target.com, the online business. Sainsbury's, meanwhile, has agreed to stock Fitbug products in 293 stores.

Fitbug shares were up 61.3% at 0.605 pence early Wednesday, the best-performing stock on the AIM All-Share index.

By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1

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