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Food and Staples Retailing

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  • European shares slip as banks, retailers retreat Wednesday, 12 Nov 2014 | 7:20 AM ET

    *HSBC, RBS, UBS, Barclays in focus after forex probe fines. LONDON/ PARIS, Nov 12- European shares fell on Wednesday, with financials hit after global regulators fined five banks for failings in currency trading, while supermarket chain J. Sainsbury dropped after announcing plans to cut prices. The European banking index slipped 1.3 percent after global regulators...

  • *To invest additional 150 mln stg in price cuts. LONDON, Nov 12- Sainsbury's plans to cut spending on new stores and reduce dividend payments to fund cheaper prices, increasing the pressure on ailing larger rival Tesco in the battle for British supermarket customers. The stock was down 4.5 percent at 256.9 pence at 1120 GMT on Wednesday after Coupe acknowledged...

  • LONDON, Nov 12- Sainsbury's threw down the gauntlet to larger rival Tesco on Wednesday, taking a hit on profits and the dividend to fund lower prices for customers in the latest escalation of the British supermarket battle. The strategy was the first big announcement from new boss Mike Coupe who took over in July. Shares in the group were little changed at 0835 GMT,...

  • Things you can sue over: The word 'mayonnaise' Tuesday, 11 Nov 2014 | 11:47 AM ET
    Just Mayo by Hampton Creek

    Food giant Unilever is suing Hampton Creek, maker of eggless spread Just Mayo, accusing it of false advertising and fraud, the New York Times reports.

  • The big four-- Tesco, Asda, Sainsbury and Morrisons-- still control 73 percent of UK grocery turnover but discounters such as Aldi and Lidl, e-commerce sites like Ocado and higher-end stores like Marks and Spencer and Waitrose are gaining ground. Unilever says it keeps margins with discounters, which account for over a billion euros of turnover, in line with its...

  • CHICAGO, Nov 6- A Chicago court on Thursday rejected Walgreens' move to block all disclosures of what the drugstore chain deems confidential information in a defamation lawsuit filed by its former chief financial officer. Cook County Circuit Court Judge Franklin Valderrama said Walgreens, the largest U.S. drugstore chain operator, failed to convince him that...

  • CHICAGO, Nov 6- A Chicago court on Thursday rejected Walgreens' move to block disclosures of what the drugstore chain deems confidential information in a defamation lawsuit filed by its former chief financial officer. Cook County Circuit Court Judge Franklin Valderrama said Walgreens, the largest U.S. drugstore chain operator, failed to convince him that all...

  • LONDON, Nov 6- Britain's Morrisons posted another big fall in quarterly sales as shoppers sought savings in discount chains or paid more for upmarket treats though the grocer said its plan to address changing industry trends was working. With wages stagnant, discounters are booming and all Britain's grocers have responded by cutting prices, hitting profits.

  • LEEDS, England, Nov 6- British supermarket operator J Sainsbury Plc's answer to discounters Aldi and Lidl was unveiled on Thursday, with the opening of its first Netto-branded store in northern England tasked to win over thrifty shoppers. Sainsbury and Dansk Supermarked, Denmark's largest retailer whose Netto brand is present in five countries, have each...

  • UPDATE 1-UK grocer Morrisons' sales fall again Thursday, 6 Nov 2014 | 2:31 AM ET

    LONDON, Nov 6- Morrisons, Britain's No. 4 grocer, posted another big fall in quarterly underlying sales, as competition from discounters and a move to cut prices compounded the weak overall food market. The Bradford, northern England, based group, which trails market leader Tesco, Wal-Mart's Asda and J Sainsbury in annual sales, said on Thursday sales at stores open...

  • UK grocer Morrisons' sales fall again Thursday, 6 Nov 2014 | 2:14 AM ET

    LONDON, Nov 6- Morrisons, Britain's No. 4 grocer, posted another big fall in quarterly underlying sales, as it continued to be hurt by its move to cut prices to counter a loss of market share to the discounters and by a weak overall food market. The Bradford, northern England, based group, which trails market leader Tesco, Wal-Mart's Asda and J Sainsbury in annual sales,...

  • UPDATE 1-Whole Foods profit beats on market share gains Wednesday, 5 Nov 2014 | 5:18 PM ET

    Nov 5- Upscale grocer Whole Foods Market Inc reported a better-than-expected quarterly profit as the company increased its market share and launched new products. The strong results allay concerns that Whole Foods was losing its share of the upmarket grocery sector it pioneered in the face of rising competition from Sprouts Farmers Market Inc and Fresh...

  • Whole Foods stock jumps after earnings beat Wednesday, 5 Nov 2014 | 4:05 PM ET
    A customer checks out of a Whole Foods Market in Washington, D.C.

    Whole Foods Market reported quarterly earnings that beat analysts' expectations and revenue that was in line with forecasts.

  • CHICAGO, Nov 4- CVS Health Corp reported slightly higher-than-expected quarterly results on Tuesday, helped by growth in specialty pharmacy sales and new client additions in its pharmacy benefits business. Net income at CVS, which operates the No. 2 U.S. drugstore chain and a major pharmacy benefits management business, fell to $948 million, or 81 cents per share,...

  • Supermarket sweep: What could lift Kroger shares Monday, 3 Nov 2014 | 12:37 PM ET
    A shopper outside a Kroger supermarket in Peoria, Illinois.

    Kroger has delivered 43 straight quarters of rising sales at stores open at least a year.

  • MOSCOW, Oct 29- Russian supermarket operator X5 Retail Group NV raised its revenue forecast to 17-19 percent this year after posting a 49 percent increase in third-quarter net profit as it weathered a food import ban by sticking with low prices. Russia's second biggest food retailer had forecasted a 10-12 percent rise. The increase in forecasts and cut in capex...

  • Apple CEO fires back as retailers block Pay Tuesday, 28 Oct 2014 | 1:11 AM ET

    LAGUNA BEACH, Calif., Oct 27- Apple Inc CEO Tim Cook fired back at CVS and Rite Aid on Monday after the drugstore chains blocked the iPhone maker's mobile payments service, saying there were plenty of other retailers around the world to sign up. It already totes up more transactions than all other "contactless" payment methods combined, Cook said, citing Visa and...

  • CHICAGO, Oct 27- U.S. drugstore chain Rite Aid Corp will ban Apple Inc's new electronic payments service in its 4,572 stores as it commits to joining a consortium of other large retailers developing a rival payments system. The rival system, called Current C, is being developed by Merchants Customer Exchange, a consortium of merchants that includes Rite Aid and...

  • Family 'heirloom': Deliverance for gluten-averse? Sunday, 26 Oct 2014 | 2:00 PM ET

    With all the buzz around gluten-free products, heirloom grains, which have lower gluten content than wheat, are getting more attention.

  • *Ratings downgrades hit bonds and credit default swaps. LONDON, Oct 24- Investors demanded higher yields to hold Tesco's debt on Friday while the cost of insuring against default rose sharply after ratings downgrades left Britain's biggest grocer hovering just above junk status. "The ratings remain on review for downgrade because Tesco has not yet announced...