retail sales

Supermarket giant Tesco led the FTSE 100 lower this morning after revealing its profits had dropped off sharply.

Matthew Shafer has joined Natixis Global Asset Management from Merrill Lynch as managing director of the UK retail business and global key accounts, replacing Ed Farrington.

Aviva Investors has split its multi-asset solutions portfolio management team into retail and institutional divisions in an effort to provide focused advice to each type of client.

Marks & Spencer has reported a heavy fall in profits over the year to 30 March, despite rising sales across the group as a whole.

Marks & Spencer has reported a slight rise in sales in the first quarter of the year, lifted by its food business, although sales of clothing continued to fall.

Querns' Stephen Whittaker is backing consumer and financial stocks to outperform in 2013, following an overhaul of his income portfolio last year and the departure of co-manager Phil Roantree.

Tesco is considering selling off its loss-making US business Fresh & Easy, announcing it will conduct a strategic review of the retail franchise.

UK retail sales have posted a surprise rise in July, up 0.3% from June, beating analysts' expectations of a more modest 0.1% increase.

Shares in beleaguered retailer HMV fell sharply in early trading after it confirmed its finance director is set to follow former chief executive Simon Fox out of the door.

Marks and Spencer has reported a fall in annual profits for the first time in three years as trading conditions worsen for high street retailers.