Financial assistance for first-time home buyers in Britain is likely to prompt a resurgence of do- it-yourself spending after several years of decline, according to Kingfisher Plc Chief Executive Officer Ian Cheshire.
Marks & Spencer Group Plc Chief Executive Officer Marc Bolland may have only a year to prove he can revive Britain’s biggest clothing retailer after reporting a sixth straight quarterly drop in non-food sales.
Kesa Electricals Plc, Europe’s third- largest electronics retailer, may need a specialist restructuring firm to buy its U.K. Comet chain or to discard more of the unprofitable unit’s stores to placate activist investor Knight Vinke Asset Management LLC, analysts say.
In more than a decade as chief executive officer of Tesco Plc, Terry Leahy prided himself on the creation of an international business that grew to become a third of sales. His successor is starting to dismantle it.
Marks & Spencer Group Plc today paraded fall/winter ranges featuring 169-pound ($251) leather leggings and 85-pound aviator jackets, providing clothing director Kate Bostock ’s first test under new chief Marc Bolland.
Debenhams Plc, the U.K.’s second- biggest department-store company, said fiscal first-half profit will miss estimates after January snowfall hurt sales and caused the retailer to offer deeper discounts to shift inventory.
Next Plc, the U.K.’s second-largest clothing retailer, reported faster sales growth in the third quarter as the expansion of the Next Directory home-shopping unit outweighed worsening sales at the company’s stores.
Darty Plc’s largest investor plans to exercise its right to install a representative on the board of France’s biggest electronics retailer, losing patience after the company warned that annual profit is set to miss estimates.
Burberry Group Plc, the U.K.’s largest luxury retailer, predicted it will report annual earnings above analysts’ estimates after a stronger-than- anticipated finish to the fiscal year in wholesale and retail.