U.K. supermarket Tesco returned to sales growth in its fiscal fourth quarter. Sven Reinke, vice-president and Senior Credit Officer at Moody’s, explores the results. » Read More
European stocks closed mixed to lower on Thursday, as start-of-quarter enthusiasm petered out among investors and telecom stocks weighed on investor sentiment.
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European stocks finished sharply higher Wednesday as equity markets rallied globally at the end of a torrid month.
Supermarket says its full-year profit was set to exceed analysts' average forecast, despite posting a seventh straight quarter of falling sales.
Europe markets finished higher on Wednesday, reversing earlier losses as Wall Street saw trade bounce back and after their Asian counterparts pared losses.
Private equity firm MBK Partners and Singapore state investor Temasek Holdings are bidding for Tesco's South Korea arm.
European equities closed mostly higher on Friday, as investors kept an eye on Greece's nearing debt deadline.
World's second biggest supermarket chain warned the UK is still tough as it reported slightly better-than-expected first-quarter sales.
European equities closed mixed on Thursday after wobbling in earlier trade, as hopes for a deal between Greece and its creditors seemed to fade.
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European equities closed higher on Wednesday, ending a six-day downward trend, on hopes of further assistance for Greece.
Supermarket group says sales at stores open over a year fell 2.1 percent in the 12 weeks to June 6.
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.