Breakfast briefing: Retail news on Tesco, River Island and F Hinds

Tesco appoints Barclays as joint broker alongside Deutsche Bank

Tesco has appointed Barclays as joint corporate brokerage adviser alongside Deutsche Bank AG after splitting with long-term advisers Nomura and JPMorgan Cazenove, Bloomberg reported.

Tesco said: “In line with good practice and in common with other listed companies, we carry out periodic reviews of all our advisory service providers”.

River Island profits rise 12.5%

River Island’s pre-tax profit jumped 12.5% last year as it invested in new stores in the UK and overseas.

The fashion retailer recorded a £97.8m pre-tax profit in the year to December 29, while turnover edged up 0.4% to £802.3m.

River Island chief executive Ben Lewis said: “I am pleased with our performance against a tough economic backdrop.

“It reflects the investment we have made in the business and we look forward to further expansion at home and abroad as we build a world class multichannel fashion brand.”

F Hinds deploys cloud-based EPoS system to boost sales

Jewellery retailer F Hinds has implemented Cybertill’s cloud-based EPoS retail system across its 111 stores, allowing it to increase sales opportunities through stock checking systems.

The retailer expects to benefit from real time stock visibility by using Cybertill in both its online and bricks and mortar points of sale, WatchPro reported.

In order to avoid long queues in-store during the forthcoming festive season, the retailer is planning to utilise Cybertill’s cloud-based technology to serve customers at different points around its shops.