All City & finance articles – Page 333
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NewsTesco warned it must address damaging company culture
Tesco must address an oppressive company culture that is damaging its business, a source closely connected to the grocer’s leadership team has told Retail Week.
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AnalysisTimeline: Tesco's three months of turmoil
Tesco has had a torrid time in the last three months. Retail Week takes a look at the chain of events that led it to this week’s £250m profit forecast overstatement.
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NewsDreams forecasts return to profit as it eyes brand extensions
Dreams is confident it can turn a profit this financial year after reporting a loss in its most recent trading period.
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NewsSerious Fraud Office keeps eye on Tesco as other grocers warned over accounting practices
The Serious Fraud Office is following events at Tesco closely as Sainsbury’s and Morrisons have been warned by auditors that they could be at risk of an accounting fiasco.
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NewsLakeland 'disappointed' as annual profits halve to £3m after investment
Lakeland has reported a “disappointing” set of results as its profits for the year halved after it invested heavily and cut prices.
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NewsTopps Tiles expects annual pre-tax profit to surge 30%
Topps Tiles expects pre-tax profit to have surged 30% in the current financial year owing to its “relentless” focus on growing market share.
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NewsMothercare to reveal new store designs this autumn as it bids for recovery
Mothercare will trial two new store designs this autumn as boss Mark Newton-Jones seeks to revive the retailer on the back of a £100m rights issue.
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OpinionComment: Mothercare's rights issue will allow focus on customers
Tight cost control is a retail basic but on its own it’s rarely enough to build a business and persuade the shopper to open her purse.
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NewsTesco chairman under pressure after board rejected warnings from auditors
Tesco chairman Sir Richard Broadbent is facing further pressure after it has emerged the grocer’s board dismissed warnings from its own auditor about how it was accounting for commercial deals with suppliers.
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NewsMothercare to raise £100m from rights issue to invest in digital transformation
Mothercare is seeking to raise about £100m by launching a rights issue as part of an ambition to make the company a “digitally led” business.
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NewsTesco persuades M&S to release CFO Alan Stewart early amid accounting crisis
Tesco’s new chief financial officer, Alan Stewart, will join the grocer today after a deal was struck with Marks & Spencer to terminate his contract early.
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AnalysisInternational analysis: Alibaba’s IPO indicates etailer’s future plans
Chinese etailer Alibaba’s IPO is underway and the online retailer has made the largest ever debut on the New York Stock Exchange.
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NewsMoss Bros revamp attracts younger shoppers and ups multichannel credentials
Moss Bros’s revamp has helped attract a younger customer as the retailer ups its multichannel credentials with the launch of delivery service Moss Premier.
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AnalysisTesco profits overstatement: what the analysts say
Tesco has revealed that its expected half-year profit has been overstated by £250m and has launched an investigation. The City has reaced with shock.
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NewsRobin Terrell assumes leadership of Tesco UK as profits investigation launched
Tesco multichannel director Robin Terrell has stepped in to run the flagship UK business as an investigation begins into a profits overstatement.
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NewsMoss Bros sales up but profits dip as it refits stores
Formal menswear retailer Moss Bros first half sales increased but profits slipped as it temporarily closed stores to refit them.
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NewsTesco discloses £250m overstatement of profit forecasts
Tesco has revealed that expected profit forecasts for the first half of this year have been overstated by £250m and has called in accountants and lawyers to investigate.
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NewsCard Factory to launch stores in Republic of Ireland next year
Card Factory will open a “small number” of stores in the Republic of Ireland next year as it continues its rapid store roll out following its IPO.
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NewsPhones 4u eleventh hour rescue deal ruled out by administrator
Phones 4u administrator PwC has ruled out a last minute rescue plan that would have involved the retailer’s bondholders taking part in a debt-for-equity swap.
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NewsBeales sales fall following store closures
Beales sales slipped in the 19 weeks to September 13 as it closed loss-making stores in the period but it said trading had improved on the first half.