HSBC believes Wal-Mart is about to unleash a price war on the UK grocery scene via its subsidiary Asda. » Read More
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.
Europe shares ended higher on Wednesday with investors anticipating more stimulus by the European Central Bank (ECB).
Christmas comes just once a year – but the problems affecting the big U.K. supermarkets are expected to linger all year long.
Britain's accounting watchdog said on Monday it had launched an inquiry into PwC over its auditing of Tesco's accounts.
Retail sales growth in the U.K. accelerated at its fastest pace in almost 26 years – just as the industry is preparing itself for major downsizing.
European shares closed sharply lower on Tuesday as a slide in Chinese and Greek equities weighed on investor sentiment.
Shares in embattled Tesco fall 15 percent after the supermarket warned that its full-year profit for this year would not exceed £1.4 billion.
European shares closed flat on Tuesday as investors digested revised third quarter GDP data from the U.S.