retail sales

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.

Tesco reported a rise in profits over 2011-2012 as the CEO pledged to renew focus on the UK business after the firm's first profit warning in 20 years.

GAME Group administrators have announced 333 of its UK shops that are still open have been sold to private investment firm OpCapita.

Standard Life Investments' UK Smaller Companies fund, run by Harry Nimmo, is set for a boost as ASOS shares jumped 12% this morning after international sales grew 93% last year.

Warren Buffett's retail favourite Tesco has seen its shares plunge 14.2% following a profit warning today.

M&G global head of retail sales says industry is awash with mediocrity, which must be eradicated.

Retailer prospects

US shares have built on yesterday's gains in early trading after data showed US retail sales posted their biggest gain for four months in July.

London's leading share index has slipped back mid-afternoon following disappointing news from consumer stocks, and a muted opening in the US.

UK retail sales slipped 0.8% in February compared to the previous month, according to the Office for National Statistics (ONS).