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  • By Martinne Geller and Paul Sandle. LONDON, Jan 8- Tesco is betting that a more consistent approach to pricing on hundreds of branded products will enable it to compete better with discount supermarkets, improve relationships with suppliers and direct more shoppers to higher-margin items. As Britain's No. 1 grocer fights to overcome the biggest crisis in its...

  • European shares advance on Fed minutes, Tesco rallies Thursday, 8 Jan 2015 | 4:16 AM ET

    LONDON, Jan 8- European shares rose sharply on Thursday, tracking gains in the United States and Asia, as retail stocks rallied and the minutes from the Fed's recent meeting reassured investors that it was not in a hurry to start raising rates. Shares in Britain's biggest grocer Tesco surged 5.8 percent, the top gainer in the FTSEurofirst 300 index, after saying it...

  • European shares rise on Fed minutes, Tesco jumps Thursday, 8 Jan 2015 | 3:23 AM ET

    LONDON, Jan 8- European shares rose sharply on Thursday, tracking gains in the United States and Asia, as retail stocks rallied and the minutes from the Fed's recent meeting reassured investors that it was not in a hurry to start raising rates. Shares in Britain's biggest grocer Tesco surged 5 percent, the top gainer in the pan-European FTSEurofirst 300 index,...

  • LONDON, Jan 8- Britain's biggest grocer Tesco plans to sell assets and cut hundreds of millions of pounds of costs to fund lower prices in store as part of its plan to fight back from the biggest crisis in its 95- year-history. Seeking to recover from four profit warnings and an accounting scandal last year, new Tesco boss Dave Lewis unveiled his plan alongside a...

  • LONDON, Jan 8- Tesco delivered its first salvo in a fight back against the growth of discount supermarkets on Thursday by cutting the price of hundreds of branded products such as Hovis bread, Kellogg's cornflakes and Stella Artois lager. Britain's biggest supermarket group, like rivals Asda, Sainsbury's and Morrisons, is losing sales to discounters Lidl and...

  • LONDON, Jan 7- Strong demand for premium foods and clothing helped British grocer J Sainsbury to beat Christmas sales forecasts, though it continued to lose market share to discounters and warned of another tough year for mainstream supermarkets. The company, which trails troubled market leader Tesco and Wal-Mart Stores' Asda by annual sales, said on Wednesday...

  • LONDON, Jan 7- European shares halted a three-day slide at the open on Wednesday, helped by a rise in retailers after estimate beating German sales data and a strong showing by British supermarket Sainsbury's. Supporting sentiment in the broader market, German retail sales rose one percent in November, beating expectations for a flat reading, data from...

  • LONDON, Jan 7- British grocer Sainsbury's posted a better-than-expected performance in the Christmas quarter, though it was still hurt by a loss of share to discounters and an intensifying industry price war. The group, which trails troubled market leader Tesco and Wal-Mart Stores' Asda by annual sales, said on Wednesday sales at stores open over a year fell 1.7...

  • LONDON, Jan 7- British grocer Sainsbury's posted a better than expected performance in the Christmas quarter, though it was still hurt by a loss of share to discounters and an intensifying industry price war. The group, which trails troubled market leader Tesco and Wal-Mart Stores' Asda by annual sales, said on Wednesday sales at stores open over a year fell 1.7...

  • Girl Scouts unveil new cookies (and ditch others) Tuesday, 6 Jan 2015 | 1:10 PM ET
    Thin Mint Girl Scout cookies.

    Taking cues from one of today's hottest food trends, the Girl Scouts are adding three new cookies to their lineup this year.

  • The Postal Service has been losing billions of dollars for years, including $5.5 billion in fiscal 2014, despite cutbacks in the workforce, consolidation of facilities and other cost-cutting moves. "Congress needs to look at the Postal Service as a business that is going to be a lot different in the coming years and it should view this as a positive, desirable...

  • Walgreens December same-store sales beat estimates Tuesday, 6 Jan 2015 | 11:35 AM ET

    Jan 6- Walgreen Co, the largest U.S. pharmacy chain, reported a better-than-expected jump in December comparable store sales, helped by the month containing one more Wednesday and one fewer Sunday than a year ago and higher sales of flu medicine. Walgreen, which gets more than 60 percent of its revenue from prescription drug sales, also sells non-prescription...

  • SACRAMENTO, Calif., Dec 30- An effort to kill California's first-in-the-nation state ban on single-use plastic grocery bags advanced this week after bag makers spent several million dollars on a campaign to gather signatures for a proposed ballot initiative to overturn it. "You just take it back to the grocery store and stuff it into a container and it gets...

  • SACRAMENTO, Calif., Dec 30- An effort to kill California's first-in-the-nation state ban on single-use plastic grocery bags advanced this week after bag makers spent several million dollars on a campaign to gather signatures for a proposed ballot initiative to overturn it. "You just take it back to the grocery store and stuff it into a container and it gets...

  • Why California egg prices are skyrocketing Tuesday, 30 Dec 2014 | 4:34 PM ET
    A farm worker collects eggs in an old-fashioned chicken house at an egg farm, on November 6, 2014 in San Diego, California.

    A new California requirement is already leading to a surge in egg prices, NPR reports.

  • Walgreen profit rises 16% on record prescriptions Tuesday, 23 Dec 2014 | 9:23 AM ET
    A Walgreens store is shown in Homestead, Fla.

    U.S. drugstore chain operator Walgreen reported a 16 percent rise in quarterly profit, helped by a record number of prescriptions filled.

  • Dec 23- U.S. drugstore chain operator Walgreen Co reported a better-than-expected quarterly profit, helped by a record number of prescriptions filled, sending its shares up 3.6 percent. The combined cost savings for Walgreen and Alliance Boots in the quarter were about $140 million. Net income attributable to Walgreen rose 16 percent to $809 million, or 85...

  • Walgreen profit rises 16 pct on record prescriptions Tuesday, 23 Dec 2014 | 7:42 AM ET

    Dec 23- U.S. drugstore chain operator Walgreen Co reported a 16 percent rise in quarterly profit, helped by a record number of prescriptions filled. Net income attributable to the company rose to $809 million, or 85 cents per share, in the first quarter ended Nov. 30, from $695 million, or 72 cents per share, a year earlier. Walgreen's shares were up 2 percent at $76 in...

  • Hipster hangouts: Cereal, bikes and Brecht Friday, 19 Dec 2014 | 1:28 AM ET

    Cereal Killer Cafe opened last week in London's hip East End. Here, CNBC looks at some of world's craziest hipster hangouts.

  • Dec 18- Rite Aid Corp, the third largest U.S. drugstore chain, raised its full-year earnings forecast after cutting it twice this year as higher sales of prescription drugs pushed up its profit and revenue in the third quarter. Rite Aid's shares jumped 13.3 percent to $6.87 in heavy premarket trading. Rite Aid, which sells over-the-counter drugs, personal care...