City

Retail news from The City

Financial results

French Connection has already announced a number of store closures as it tries to improve its underlying sales performance in the UK

French Connection issues profit warning

- British fashion retailer French Connection has announced to investors today that it is now unlikely to meet its full-year profit targets due to continuing declines in sales.In the 15 weeks to May 7th 2012 French Connection’s group revenues decline...

11:03AM - Thu 17th May 2012

Land Securities owns numerous centres, including the White Rose Shopping Centre, Leeds

High streets “may not recover” from troubles, warns Land Sec

Financial results

- Property firm Land Securities Group has today predicted a bleak outlook for the UK high street, claiming that many locations “may never recover” from current struggles.Annual results released this morning by the largest commercial property company...

05:34PM - Wed 16th May 2012

Boardroom

Philip Clarke has reportedly sent a letter to Tesco's management informing them that staff bonuses are to be cut by more than 80 per cent this year

Tesco cuts store manager bonuses by up to 80%

Grocery

- Philip Clarke, CEO of the UK’s leading retailer Tesco, has informed around 5,000 of the company’s store managers & executives that their annual bonuses will be slashed this year.According to The Daily Mail a letter was sent to the managers explain...

11:20AM - Tue 15th May 2012

Marc Bolland has aimed to increase M&S sales by £3 billion in three years but that now looks unlikely.

M&S to reduce sales growth targets

Department Stores

- High street retailer Marks & Spencer (M&S) is set to scale back its ambitions plans for sales growth next week due to the depressed state of UK consumer spending, reports have suggested.Just 18 months ago CEO of M&S Marc Bolland claimed that the b...

11:28AM - Mon 14th May 2012