All City & finance articles – Page 468
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NewsB&Q to open small city centre stores
DIY retailer B&Q intends to open small-format city centre stores in the UK after the success of similar pilot stores run by parent Kingfisher overseas.
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NewsFindel profits reduced after accounting errors found
Home shopping firm Findel has said its full-year profit will be reduced by £6.4m after it found accounting errors in its education division.
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NewsOcado to push button on float this week
Ocado is gearing up to push the button on its plans for a £1bn stock market flotation this week, it is understood.
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NewsPrivate equity firm acquires Republic
Branded fashion chain Republic has been sold to private equity house TPG for £300m.
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NewsTesco faces AGM revolt over pay
Tesco faces the prospect of an investor revolt at its AGM next month over “excessive” executive pay, singling out US boss Tim Mason as an example.
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OpinionA matter of quality
Quality of management is typically one of the focal points for investors in any business. And in these celebrity-obsessed times, a business version of X Factor is often played out when retail’s big roles are up for grabs
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NewsHome Retail fails to score TV sales growth from World Cup
Home Retail Group failed to gain a pre-World Cup TV sales increase, as several rivals did, as overall like-for-like sales at flagship chain Argos fell 8.1% in the 13 weeks to May 29.
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NewsTesco and Sainsbury’s insist growth to come
Grocers positive despite high petrol prices and low inflation hitting Q1 sales
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News
Budget drives rise in stock held by short sellers
The proportion of some of the biggest retailers’ stock held by short sellers has risen on the back of uncertainty about the sector’s prospects ahead of next week’s emergency Budget.
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NewsCredit Suisse, Singer and Citi named top brokers
Credit Suisse, Citi and Singer Capital markets have taken the top retail brokerage spots in this year’s bellwether Extel rankings.
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News
Analysts see Alexon opportunity
Alexon reported a 5.4% drop in like-for-like sales in the 19 weeks to June 12 - an acceleration on the first 11 weeks when sales fell 4%.
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NewsCity takes Q1 grocery slowdown in its stride
Grocers lagged the market as lower food price inflation contributed to lacklustre first-quarter like-for-like growth at Sainsbury’s and Tesco - 1.1% in each case before the VAT change is taken into account.
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NewsJJB Sports chairman John Clare to be paid in shares
JJB Sports’ chairman John Clare has shown his confidence in the recovery of the sports chain by taking a share award only for his role at the retailer rather than cash.
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NewsTed Baker appoints non-executive director
Ted Baker has drafted in commercial lawyer Anne Sheinfield as an independent non-executive director.
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NewsBurberry boss receives £3.16m pay-out
Burberry paid its chief executive Angela Ahrendts £3.16m, which included her maximum bonus allowance, following a strong performance for the luxury group.
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NewsTed Baker retail sales rise 20%
Fashion retailer Ted Baker posted a 20.4% rise in retail sales over the 19 weeks to June 12.
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OpinionDalton Philips means business
Morrisons’ new chief executive Dalton Philips has wasted no time in beefing up his board with the appointment of Waitrose commercial director Richard Hodgson to join as its group commercial director.
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AnalysisTraffic Jams
As trade becomes increasingly unpredictable, Liz Morrell asks retailers whether it is down to multichannel, competition from leisure, the weather or something more fundamental
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NewsUncertainty hits food and general retailers
The week in retail was dominated by the surprise announcement of Sir Terry Leahy’s plans to retire as chief executive of Tesco next March. Tesco shares fell more than 2% on Tuesday as the City digested the news, but analysts were happy with the appointment of Tesco veteran Phil Clarke ...
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OpinionTime for a retail coalition
If politicians can do it, why can’t retail join forces for the greater good, says Jacqueline Gold