All City & finance articles – Page 371
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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.
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NewsFrench Connection to launch Dutch and German stores as it eyes growth
French Connection is now looking to international expansion with launches in Germany and Holland planned as its turnaround plan gathers pace.
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AnalysisScottish independence: Retail chief executives give their verdict
On the day Scotland heads en masse to the polling booths, Retail Week rounds up how retail bosses expect Scottish independence will impact the retail industry and affect consumers.
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NewsFrench Connection reduces half-year loss to £3.9m as sales edge up
French Connection has reduced its half-year pre-tax loss to £3.9m as it increased like-for-likes across its UK and European operation.
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NewsCard Factory's underlying profits grow as IPO costs lead to statutory loss
Card Factory grew its half-year underlying operating profits by 9.3% as it made a statutory loss of £7.9m in its first results since floating.
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NewsTech & Ecomm Summit: PrivateFly boss says crypto currencies are here to stay
The chief executive of private jet charter company PrivateFly says payment methods such as Bitcoin will be increasingly important in retail.
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NewsJD Sports Fashion doubles profits in the first half
JD Sports Fashion doubled its profits in the six months to August 2 as the retailer’s sales jumped 27%.
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OpinionComment: Dixons Carphone and the secret to a happy retail marriage
In the wake of Dixons Carphone’s merger, what lessons can retailers learn to ensure their mergers are successful long term?
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NewsN Brown 'modernises how it operates' with fast fashion and digital push
N Brown boss Angela Spindler said it is “modernising the way it operates” as it vies to become a “progressive fashion retailer”.
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NewsAsos will benefit from overseas price cuts within six months, says Nick Robertson
Asos boss Nick Robertson said its investment in cutting prices overseas will start paying off within six months as he attempts to stop the slowdown.
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InterviewInterview: Sir Stuart Rose on start-ups, food retail and sustainability
As he prepares to join the House of Lords, the former M&S boss speaks to Retail Week.
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NewsHobbycraft profits down after investment as it prepares loyalty card
Hobbycraft has reported profits of £7m for its full year on the back of a 9% increase in revenue and heavy investment in initiatives including a new loyalty card.
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OpinionComment: Asos’s success depends on keeping its entrepreneurial spirit alive
A quarterly retail sales rise of 15% and total annual revenues up 27% to almost £1bn would normally be cause for throwing hats in the air.
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NewsN Brown sales fall as it realigns business in 'transitional year'
Multichannel retailer N Brown has reported its first-half group revenues were down by 0.6% while like-for-likes slipped 0.5%.