All City & finance articles – Page 327
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NewsTesco discloses £263m profit overstatement as chairman prepares to step down
Tesco has confirmed it overstated profits by £263m as the Deloitte investigation found that there have been similar practices in previous reporting periods.
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OpinionComment: Tesco’s CEO must not lose focus on core business
Following Tesco’s accounting scandal chief executive Dave Lewis must not lose sight of the struggling retailer’s long-term strategy.
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NewsNew boss Sutherland vows to make SuperGroup a global success story
Euan Sutherland will focus on internationalisation at SuperGroup, which has denied that COO Susanne Given may feel snubbed by his appointment.
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NewsShoe Zone expects annual revenues to fall £20m as it relocates stores
Shoe Zone expects its revenues to drop by £20m year-on-year as it reshapes its store estate in order to have better-performing shops.
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NewsHomebase to close a quarter of its stores as boss Paul Loft exits
Homebase boss Paul Loft is stepping down as the retailer seeks to reduce its number of stores by a quarter after a strategic review by parent Home Retail.
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NewsRobertson: 'Asos still on track but zonal pricing is not a silver bullet'
Asos boss Nick Robertson insisted that it is still on track despite its profits fall but warned actions to lower prices overseas are not a silver bullet.
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AnalysisAsos full-year results: What the analysts say
What the City is saying about Asos following its preliminary results
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NewsRicher Sounds records highest operating profit as like-for-likes edge up
Richer Sounds like-for-like sales have edged up and helped the company record the highest operating profit in its 36-year history.
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OpinionComment: Why Asos was right to promote Nick Beighton
There have not been many ‘lolz’ at Asos this year – the fashion etailer has been trolled by the City after a series of profit warnings.
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NewsCarpetright founder Lord Harris retires as new chairman appointed
Carpetright founder Lord Harris is to retire from the business at the end of the month after it appointed a new chairman.
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NewsAsos full-year profits fall 14% as it promotes finance boss Nick Beighton
Asos full-year pre-tax profit fell 14% to £46.9m as it promotes chief financial officer Nick Beighton to chief operating officer.
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News
Qatar Holding buys 20% stake in Hong Kong department store
Qatar Holding has acquired 20% of Hong Kong and Chinese department store group Lifestyle International Holdings for $616m (£381m).
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NewsTesco investigation into accounting scandal to reveal evidence of cover-up
Tesco’s investigation into the overstating of its profits by £250m has allegedly found evidence of a cover-up as executives struggled to meet commercial targets.
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NewsMade.com secures £5m from Silicon Valley Bank to accelerate growth
Made.com has secured £5m of financing from Silicon Valley Bank to help it expand in its UK and international markets.
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NewsWickes sales jump in third quarter as transformation plan kicks in
Travis Perkins’ consumer arm, largely comprising of Wickes, increased like-for-like sales by 6.4% as its transformation plan kicks in.
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NewsTesco’s chief executive Dave Lewis prepares to brave City spotlight
Tesco’s CEO will present the retailer’s first results under his leadership to the City, as well as outlining his priorities to investors.
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OpinionAnalysis: Never mind the carpets, WHSmith's results show it is doing well
WHSmith may be the butt of sarky humour but there is little doubting the retailer’s prowess after it reported a 9% surge in profits.
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NewsLegendary investor Warren Buffett sells 245m Tesco shares
Warren Buffett has sold 245m of his shares in ailing grocer Tesco, leaving the legendary investor’s Berkshire Hathaway firm with a stake of less than 3%.
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NewsTesco 'leaderless' says supplier as accounting scandal creates culture of fear
Tesco’s accounting scandal has created a culture of fear among its buyers and is impeding the running of the business, according to one of its major suppliers.
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NewsWHSmith profits surge 9% despite sales fall as it ups cost savings
WHSmith’s full-year pre-tax profits rose 9% despite a 3% like-for-like sales dip and the retailer is raising its high street cost savings target.