Price wars among the U.K.'s biggest supermarkets have driven down the cost of food, pushing the growth of the grocery market to a 10-year record low.» Read More
Britain's No.4 grocer Morrisons sales continue to slide, hurt by price cuts and its relative lack of exposure to online and convenience markets.
European markets closed mixed on Wednesday on reports that Russian President Vladimir Putin was willing to discuss the Ukraine crisis.
British grocer J Sainsbury posted a 5.3 percent rise in annual profit, its slowest growth in nearly a decade.
Wm Morrison Supermarkets, Britain's fourth largest grocer, has unveiled a second round of price cuts.
U.K. supermarket chain Sainsbury's reported a drop in sales in the final quarter of 2013, ending the group's nine straight years of positive sales.
Wm Morrison, Britain's No. 4 grocer, suffered a major theft of data from its staff payroll system.
LONDON, March 13- Britain's Wm Morrison Supermarkets sparked fears of an industry price war on Thursday after it posted its lowest profit for five years and said it would invest 1 billion pounds in price cuts over three years to win back customers.
LONDON, March 13- Britain's Wm Morrison Supermarkets sparked talk of an industry price war on Thursday after it posted its lowest profit for five years and said it would invest 1 billion pounds in price cuts over three years in a bid to recover.
The full extent of the problems facing the U.K.'s "big four" supermarket chains was underlined on Thursday, with a profit warning by WM Morrison.
Britain's fourth biggest grocer Wm Morrison posted its lowest profit in five years, slashed expectations going forward and said it plans to sell off one billion pounds ($1.66 billion) of its 9 billion pound property portfolio.
Jason Gissing, one of the ex-Goldman Sachs bankers who founded Ocado, is leaving the company as it prepares to spar with the biggest U.K. retailers.
Retail stocks in the U.K. have seen a spike in short-selling since the start of the year, according to financial research firm Markit.
British retailers suffered a sales drop over the festive period, the latest in a long line of disappointing results for the sector.
European equities closed lower on Tuesday as investors looked ahead to the U.S. Federal Reserve's last policy meeting of the year.
European shares closed down on Wednesday, as the U.S. government shutdown continued and jobs data came in weak.
The U.K. supermarket landscape is changing, with Tesco’s long-held place at the top of the market beginning to look shaky.
European shares closed down, but off session lows on Thursday, after investor confidence took a hit earlier in the session.
U.K. supermarket WM Morrison on Thursday posted first-half profit below expectations, but Trevor Strain, the chief financial officer told CNBC that it is only "mid-flight" on its journey into two new key growth areas.
J Sainsbury, Britain's No. 3 supermarket chain, met forecasts for underlying sales growth in its first quarter, outperforming major rivals.
Tesco, the world's third-biggest retailer, slipped back to an underlying sales decline in the U.K. in the first quarter, raising doubts about a costly recovery plan for its home market.