Shares in fashion brand Burberry sunk over 4 percent on Wednesday, after launching a £150 million share buyback programme and reporting a rise in revenue. Sales rose 3 percent in the quarter to June, hitting £479 million, up from £478 million in the same period last year the same period a year ago. Softer demand from tourists was offset by a growth in sales from local and ‘top’ customers, according to the company, with performance in the Middle East hindered by ongoing stability. Sales growth in Americas grew by a high single digit percentage amid positive footfall in the US. Burberry confirmed its Farfetch collaboration was performing ahead of expectations. The fashion brand’s chief creative director Riccardo Tisci is slated to debut his collection in September. The company is eight months into a strategic plan orchestrated by CEO Marco Gobbetti to boost its upmarket presence and increase its production of leather goods, where it has traditionally lagged behind. It has recently taken over one of its leather goods suppliers in Italy to fulfill that objective. Burberry maintained its guidance at constant currency for fiscal 2019 and said it remained on track to deliver cost savings of £100 million. Shares in Burberry (LON:BRBY) fell 4.09 percent to 2,015.00 (0848GMT).

UK and Ireland Tesco CEO Charles Wilson announced his resignation on Tuesday, in order to deal with his cancer diagnosis. He will remain on Tesco’s executive committee and lead the integration of the recently-acquired wholesaler Booker. Wilson was diagnosed with throat cancer in April, and has since been undergoing daily radio therapy. In a statement, Tesco said: “The good news is that Charles has responded very well to the treatment and all the signs are that the treatment has been successful. “However, given the nature of the illness and the need for Charles to remain vigilant in his recuperation, we have agreed to make the following changes to responsibilities within the senior leadership team.” Chief product officer Jason Tarry is set to become chief executive of the UK and Ireland business and Andrew Yaxley will be promoted CEO Ireland. Tesco (LON:TSCO) shares are currently trading down 1.08 percent on the news, at 257.10 (1009GMT).

Shares in MySale Group jumped 14.8 percent to 68.8p in morning trading. The online retailer saw an increase in shares on Tuesday as the group announced a revenue growth of ten percent and end-of-year earnings to reach the top end of expectations. ”The group continues to invest in enhancing our proprietary technology platform, which has a key role to play as volumes increase, efficiencies are unlocked and operational gearing improves,” said Carl Jackson, the group’s chief executive. ”We move into the new financial year with confidence and with the expectation that our strategic plans will continue to support the group’s profitable growth,” he added. Revenues in MySale from A$268 million in 2017 to A$295 million at the end of this year. The group has websites in Australia, New Zealand, South-East Asia and the UK and popular online flash-sales. Jackson said he expects 2018 to be “another record year” for the group.

Shares in broker TP Icap (LON:TCAP) plunged over 30 percent on Tuesday morning, after the group fired their CEO and warned on lower profits for the full year. The move surprised both investors and chief executive John Phizackerley himself, who said he only found out about the decision on Monday. Rupert Robson, chairman of TP Icap, said: “The evolving landscape is driving up costs across our industry. The acquisition of ICAP has given us greater scale to withstand this pressure. However, it has become clear that a change of leadership is required to execute our medium-term growth strategy and deliver the detail of the integration process.” He will be replaced with immediate effect by Nicolas Breteau, its head of Global Broking. TP Icap, the largest interdeal broker, also warned that earnings for the full year would come in below the bottom end of market expectations, as the effect of Brexit, Mifid II regulatory changes, legal fees and IT security take their toll on figures. Shares in TP Icap, which was formed in 2016 after a merger with Tullet Prebon and Icap, are currently trading down 31.68 percent on the news at 287.06 (0925GMT).

Photo-Me (LON:PHTM) shares rose on Tuesday morning after the group reported an increase in pre-tax profit for the year, boosting investor sentiment after a downbeat trading update in May. The group reported a pre-tax profit for the year of £50.2 million, up from £48 million the previous year, with revenues climbing to £229.8 million from £214.7 million previously. The group also pleased investors with a dividend boost, up to 4.73 pence from 3.49 pence in 2017. This set of results will boost investor sentiment, after the group warned on profits back in May on the back of steep competition in its key Japanese market and an investment to restructure its Japanese subsidiary to boost profitability. Commenting on the results, Serge Crasnianski, CEO, said: “2018 has been another year of good operational progress “Our Identification business continues to perform well as we focus on government partnerships for the adoption of our secure ID upload technology in new countries. “Supported by steady cash flows from our global, market-leading photobooth estate, the Group will remain focused on investing in new and complementary products to drive further profitability and extend the suite of services available through our established instant-service equipment network. We remain confident for the future.” Shares in Photo-Me (LON:PHTM) are currently trading up 6.36 percent at 116.36 (0909GMT).

Property services group Kier Group (LON:KIE) saw shares edge up on Tuesday morning, after reporting results on track to meet expectations despite its construction group suffering the effects of bad weather. Year-end net debt is expected to between £170 million and £190 million, in line with previous forecasts, with average month-end net debt of about £375 million after its construction business was hit by the poor weather in February and March. The group also announced a cost-savings plan that will include the sale of non-core assets, which began last month, which will improve productivity, operating margins and cash generation. Which assets it expected to sell were unclear, but it said the benefits would be realised from 2020 onwards. The construction and services order books increased to more than £10 billion, providing a 90 percent secured revenue position in these businesses for 2019, Kier added. “The strength of the Construction and Services order books, together with the long-term Property and Residential pipelines, provides a robust platform to deliver our Vision 2020 targets,” Kier said. Shares in Kier are currently trading up 1.18 percent at 946.00 (0854GMT).

Online grocery retailer Ocado Group (LON:OCDO) reported a loss for the first half, after heavy reinvestment outweighed a rise in revenue over the period. Pre-tax losses for the six months to 3rd June hit £9 million, a steep fall from the £7.7 million profit posted last year. This came despite a 12.1 percent rise in revenue to £799.9 million, and a retail revenue boost of 11.7 percent to £736.6 million. The group attributed the profit loss to reinvestment in a technology platform for retailers, marking themselves out as the most innovative grocery delivery firm in the market. “This is a transformational period for Ocado,” chief executive Tim Steiner said. “We have developed unique and proprietary technology to offer retailers an end-to-end operating solution for grocery retail that enables them to meet the changing needs of consumers. “In the past six months we have partnered with some of the world’s, biggest, best and most innovative retailers to help them redefine the shopping experience for their own customers. As a result, we are beginning to fulfil our ambition to change the way the world shops. ‘In order to fully capitalise on the opportunities ahead of us, we are working at pace, investing more and focussing sharply on execution to bring on new capacity in the UK and to achieve successful outcomes for our partners. “We are confident that we have the ability to scale-up the business, deliver on our commitments and drive sustainability”, he concluded. Ocado has had a strong year already, pushing into the FTSE 100 for the first time in June and signing a massive deal with US firm Kroger for its new technology. Shares in Ocado are currently trading 2.62 percent down however, at 985.00 (0836GMT).