All City & finance articles – Page 368
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AnalysisSainsbury's second quarter: What the analysts say
Sainsbury’s has revealed a 2.8% drop in like-for-like sales in its first trading update under new chief executive Mike Coupe. Retail Week takes a look at what the analysts say.
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NewsFindel to report first H1 profit in six years as it considers Kitbag sale
Findel is set to report a profit before tax in the first half of its year for the first time in six years and is considering selling off its Kitbag business.
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NewsZalando valued at £3.8bn as it floats on Frankfurt stock exchange
Zalando, Europe’s biggest fashion etailer, has listed on the Frankfurt stock exchange today with a value of €4.9bn (£3.8bn).
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NewsSainsbury's reports Q2 like-for-likes down 2.8% and warns on second half
Sainsbury’s has reported like-for-like sales excluding petrol down 2.8% for its second quarter, as boss Mike Coupe warns the second half is likely to be as tough.
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OpinionComment: Next’s buying changes probably insulated it from September’s heat
The North wind won’t blow. And never mind snow, there’s barely a sign of autumnal crispness in the air. It’s tough for fashion retailers.
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NewsTesco lines up £2.5bn war chest to protect it from ratings downgrades
Tesco has secured a £2.5bn revolving credit facility to protect it against the impact of possible ratings downgrades, following last week’s profits crisis.
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NewsAo.com to launch first overseas website in Germany tomorrow
Electrical appliances etailer Ao.com is poised to launch overseas for the first time with its German website tomorrow (October 1).
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NewsNext warns unseasonably warm weather could hit full-year profit
Unseasonably warm weather in September has hit Next’s sales in its third quarter and the retailer said if it continues it will impact full-year profits.
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NewsMade.com's sales surge 68% as international roll-out gathers pace
Made.com’s sales surged in its last financial year on the back of rapid web traffic growth and international launches in France and Italy.
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AnalysisTimeline: How Marks & Spencer has innovated over the past century
M&S has gathered together some of its best ideas of the last 130 years as it prepares to launch a course on commercial innovation with Leeds University.
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NewsHMV reports profits of £17m in 11 months after administration
HMV is set to report operating profits of nearly £17m during the 11 months after it fell into administration last year.
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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.