All City & finance articles – Page 364
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NewsAldi says price war has played into its hands as sales and profits surge
Aldi has revealed surging full-year sales and profits and claims that the grocery price war has played into its hands.
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NewsTesco boss Lewis: 'Culture, processes and proposition must change'
Tesco boss Dave Lewis has told staff that its culture, processes and brand proposition must change but progress is being made despite this week’s accounting storm.
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CartoonBlower’s retail cartoon: Tesco’s £250m profit overstatement
Retail Week’s cartoonist Patrick Blower’s take on struggling retailer Tesco’s latest blow with their £250m profit forecast overstatement.
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NewsTesco former finance director McIlwee to get £1m payoff next week
Tesco’s former finance director Laurie McIlwee is to receive a £1m payoff next week despite an investigation into the £250m black hole in its profits.
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NewsBreakfast briefing: Retail news on Sainsbury's, House of Fraser, Tesco and Phones 4u
Retail news round-up on September 26, 2014: Sainsbury’s cuts prices, House of Fraser launches click-and-collect service at Caffè Nero and small investors buy Tesco shares,
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NewsTesco executives could be hauled before MPs over profit error
Tesco executives could be questioned by MPs about its overstated profit forecast, chairman of the Parliamentary Business Committee Adrian Bailey said.
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OpinionNick Bubb’s verdict: Tesco - it’s the hypermarkets, stupid
It is often said that “it’s the economy, stupid”, but the root of Tesco’s current predicament is its over-exposure to hypermarkets.
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OpinionComment: Dave Lewis’s baptism of fire as Tesco boss
Tesco’s chief executive Dave Lewis has to take decisive action to define his strategy following the revelation of the retailer’s overestimated profits.
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NewsTesco turmoil may hit Christmas trading, City analysts fear
Tesco’s difficulties following Monday’s revelation of a £250m profit forecast overstatement may hit Christmas trading, City analysts fear.
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NewsSports Direct takes £43m put option on Tesco as leading investor cuts stake
Billionaire retail tycoon Mike Ashley’s Sports Direct has agreed a put option covering 23 million shares in troubled grocer Tesco.
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NewsBreakfast briefing: Retail news on Tesco, Zara and Dixons Carphone
Retail news round-up on September 25, 2014: Leading Tesco investor sells shares; Zara’s UK profits fall; Dixons Carphone appoints marketing communications director
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AnalysisEmerging retailers: Box Upon A Time, childrenswear personal shopper service
Shoppers have become used to weekly deliveries of boxed organic veg. Might they now be ready for monthly deliveries of specially chosen kids’ clothing?
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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.