Retail News UK

Builders merchant Travis Perkins' has reported a tough start to the year at its retail division, including DIY chain Wickes, but the business has gained market share.

DIY group Kingfisher suffered a sales decline at its UK arm in the second quarter as shoppers avoided big-ticket purchases.

Debenhams has confirmed that it has completed the refinancing of its borrowing facilities, with the signing of a new £650m credit facility.

Hotel Chocolat has raised £3.7m via its first Chocolate Bond offer, just shy of the £5m it originally targeted.

Online fashion retailer My-Wardrobe has received a $9m (£6m) investment led by venture capital group Balderton Capital to drive the growth of the business.

Tesco faced rebellion over the pay and bonus packages it allocates to directors at its annual general meeting today with over 37% voting against the approval of the grocer's remuneration report.

Legendary investor Warren Buffett has increased his stake in supermarket group Tesco and now holds just over 3% of the grocer's shares.

Apple sold 1.7m iPhone 4s in its first three days, making it the most successful product to be launched in Apple's history.

DIY retailer B&Q intends to open small-format city centre stores in the UK after the success of similar pilot stores run by parent Kingfisher overseas.

One of Tesco's rising stars announced his resignation yesterday, in the same week that Sir Terry Leahy stepped down and international chief Philip Clarke was named his successor.

Fresh foods chief Colin Holmes, who has been with the company for 22 years, will leave at the end of July. Holmes has long been touted as a potential chief executive, and is thought to have been being groomed to take the top job.