All City & finance articles – Page 502
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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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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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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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NewsAsos seeks delivery partners and targets £1bn 5-year sales
Asos is stepping up its delivery options as it plans partnerships with high street stores where customers can pick up and return their Asos orders.
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NewsKingfisher’s ‘self help’ drives 12% profit rise
Kingfisher chief executive Ian Cheshire has said its “self help” agenda has helped it achieve growth in a tough market as the DIY group posted a profit rise of 12% in the 13 weeks to May 1, slightly ahead of market consensus.
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News99p Stores lays out plans to become ‘one-stop’ shop
99p Stores has revealed another bumper year of sales and profits as it lays out plans to become a “one-stop” convenience shop by ramping up its food offering.
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NewsIceland ditches celebrities in its ads
Frozen foods retailer Iceland is to launch its new ad campaign with an Iceland customer as its star, after reporting another record year this week.
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WHSmith outperforms despite ash cloud impact
WHSmith said despite the volcanic ash cloud hitting sales as airport stores closed, its “financial position is in line with market expectations”.
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Ideal Shopping Direct ‘could be bid target’
Ideal Shopping Direct could now be a possible bid target as the turnaround for the home shopping group gains traction, said Singer Capital analyst Matthew McEachran.
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NewsTough challenges that have to be faced by Tesco’s Philip Clarke
Tesco’s seamless succession planning has been lauded by the City as a success, but analysts warn that incoming chief executive Philip Clarke has a tough job ahead of him.
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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
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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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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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NewsMothercare boss gets £6.5m
Mothercare chief executive Ben Gordon’s total remuneration package increased from £1.4m to £6.5m this year after a management incentive scheme paid out.
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NewsArgos like-for-like sales fall 8.1%
Sales at Argos fell 8.1% on a like-for-like basis for its first quarter to May 29 after a drop in TV and video gaming sales.
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NewsSainsbury’s chief Justin King paid £8m last year
Sainsbury’s paid its chief executive Justin King almost £8m last year, when the grocer reported its lowest sales growth in five years.