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Supermarket group says sales at stores open over a year fell 2.1 percent in the 12 weeks to June 6.
HONG KONG/ SEOUL, June 9- British retailer Tesco Plc has invited at least six firms including KKR& Co and Carlyle Group to bid for its South Korean unit Homeplus, valued at about $6 billion, people familiar with the matter told Reuters. If sold to private equity for $6 billion- which the sources say represents the equity value of Homeplus- the sale would be Asia's...
HONG KONG, June 9- British retailer Tesco Plc has invited about six firms including KKR& Co and Carlyle Group to bid for its South Korean unit, valued at about $6 billion, people familiar with the matter told Reuters. Tesco and its advisor HSBC sent out an information package with the unit's financial details last week, asking the firms to submit indicative bids...
SEOUL, June 9- Hyundai Department Store Co Ltd is considering bidding for Tesco Plc's South Korean unit, but nothing has been decided, a Hyundai spokesman said on Tuesday. Troubled British retailer Tesco has hired HSBC to explore a sale of its South Korean operations, valued at about $6 billion, people familiar with the matter told Reuters last week.
European equities finished higher on Thursday as investors digested fresh data from the euro zone.
European shares finished mixed on Wednesday, as investors digested a slew of earnings from European companies.
Struggling U.K. supermarket Tesco reported a full-year pre-tax loss of £6.38 billion ($9.5 billion) on Wednesday, as the retailer grapples with what it called "tough trading conditions."
Annual profit at Britain's fourth biggest grocer Morrisons slumped 52 percent to an eight-year low, damaged by a strategic decision to slash prices.
Target also forecast modest earnings growth for this quarter.
Tesco has named John Allan as its new chairman, succeeding Richard Broadbent who said in October he would step down.
The new boss of Tesco is set to slash thousands more jobs in a bid to turn around the fortunes of the U.K.'s largest supermarket chain.
UK shoppers have turned their backs on traditional U.K. supermarket chains in favor of discount German retailers.
This is the first time such a racy movie has inspired branded merchandise, from the NC-17 variety to the PG.
A watchdog has launched an investigation into the way Tesco deals with suppliers, further highlighting the struggles faced by the retailer.
European equities closed largely higher on Monday, as investors look ahead to Thursday's European Central Bank meeting.
European equities closed sharply lower on Wednesday as the turmoil in global commodity markets continued.
An escalating price war between the U.K.'s largest supermarkets means that the price of milk is now cheaper than bottled water, research shows.
Morrisons said its chief executive would step down after the firm posted the worst Christmas performance of Britain's listed supermarkets.
European stocks surged to close almost 3 percent higher after ECB chief Draghi reiterated the central bank was ready to start "full-blown" QE.
Embattled Tesco reported that sales fell over the Christmas period and announced that it would not be paying a final dividend this year.