All City & finance articles – Page 116
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NewsOcado shareholders revolt over £88m bonus scheme for bosses
Nearly a third of Ocado investors voted against the business’ plans for a pay rise and £88m bonus payout for its top brass.
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VideoFace time: JD Sports boss Cowgill slams CMA’s ‘reckless’ Footasylum ruling
JD Sports’ executive chair Peter Cowgill speaks to Retail Week about the CMA’s ‘pre-judged’ decision to block its acquisition of Footasylum, despite the operational challenges faced by all retailers as a result of the coronavirus pandemic.
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OpinionOpinion: Retailers must take back control of their digital marketing destiny
The Javits Center in New York City is currently being used as a 2,500-bed field hospital run by the National Guard.
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NewsHolland & Barrett poaches McColl’s finance boss
Holland & Barrett has snapped up McColl’s chief financial offer Robbie Bell for the same role.
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NewsHalfords expects full-year profits at top end of range
Halfords has said it expects full-year profits for this financial year to come in at the top end of the expected range, while noting a downturn in overall group sales for the current trading period.
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NewsCMA blocks JD Sports-Footasylum merger despite coronavirus uncertainty
Following a phase two investigation, the CMA found the merger would “lead to a substantial lessening of competition nationally” in the footwear sector and would leave customers with “fewer discounts or receiving lower quality customer service”.
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NewsJ Crew becomes first major coronavirus casualty in the US
J Crew has become the first major US retailer to file for bankruptcy protection since the coronavirus lockdown was enforced.
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NewsHotel Chocolat opens new credit line as Easter sales hit by lockdown
Hotel Chocolat has opened a new line of credit with its bankers following a subdued Easter sales period due to the coronavirus lockdown measures.
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AnalysisAnalysis: Amazon sales rocket during coronavirus crisis, but at what cost?
Online titan Amazon posted quarterly figures that showed both the agility of its response to demand during the coronavirus pandemic and the massive cost – in dollars and perhaps reputation – that accompanied that.
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NewsIceland boss Walker slams ‘ludicrous’ HMRC probe into Christmas Club scheme
Iceland boss Sir Malcolm Walker has slammed HM Revenue & Customs for pursuing a “ludicrous” investigation into its Christmas Club employee savings scheme during the coronavirus crisis.
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NewsAmazon first-quarter profits dip as it warns of $4bn coronavirus costs
Amazon has reported in a decline in first-quarter profits and warned that earnings in its second quarter will be completely wiped out by costs related to coronavirus.
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OpinionMove of the Week: Waitrose's Bailey is the kind of leader you want in a crisis
When James Bailey left Sainsbury’s in October it’s unlikely he would have imagined his next role to be leading a rival grocer’s response to the biggest public health crisis in a century.
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NewsCoronavirus to wipe £1.7trn off global retail sales
The coronavirus crisis will wipe $2.1trn (£1.7trn) off of global retail sales in 2020, new data has predicted.
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NewsWilko profits and sales fall in ‘incredibly difficult’ year
Wilko has reported a slide in full-year pre-tax profits and a fall in sales, which it attributed to the “challenging” UK retail environment, Retail Week can reveal.
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NewsJohn Lewis considers permanently closing some stores after lockdown
The chair of John Lewis has admitted the retailer may permanently close some of its department stores, even after the coronavirus lockdown ends.
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NewsIntu could lose control of key shopping centres
Bondholders of debt secured against retail property giant Intu are preparing plans that could see them seize the retailer’s key assets as early as June.
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NewsSainsbury’s full-year profits dip, coronavirus prompts grocery sales surge
Sainsbury’s has reported a decline in underlying full-year profits as it plans to incur £500m in additional costs due to coronavirus in the coming financial year.
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AnalysisCoronavirus: Next’s Lord Wolfson on cash, customers and trading safely
As fashion bellwether Next reports a “faster and steeper” fall in sales in the wake of the coronavirus outbreak than expected, how is the retailer adapting to tough conditions afflicting the whole industry?
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NewsDixons Carphone hails strength of online channel as it cancels dividend
Dixons Carphone has said its ecommerce channels in the UK and Ireland have recovered around two-thirds of sales lost to store closures as it cancelled its full-year dividend for shareholders.
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NewsNext warns sales fall during coronavirus ‘faster and steeper’ than anticipated
Next has issued a lengthy trading update warning that the fall in sales as a result of the coronavirus has been “faster and steeper” than it anticipated in March.