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.» Read More
*Owned by Germany's third-richest man, Dieter Schwarz. Based in Neckarsulm in southern Germany, Lidl is owned by Germany's third-richest man, Dieter Schwarz, son of the company's founder Josef Schwarz. Klaus Gehrig took over as the chain's chief executive from Dieter Schwarz in 2004..
LONDON, March 18- British grocer J Sainsbury's nine-year run of quarterly sales growth came to an end on Tuesday, underlining the pressure on the industry as a battle over prices intensifies in a fragile economic recovery.
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.
Shares in Sainsbury's dropped on Wednesday, as the U.K. supermarket chain announced that its CEO Justin King has decided to step down after 10 years at the company.
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.
LONDON, Jan 9- Tesco and Marks& Spencer, the biggest names in British retail, posted heavy falls in sales in the run up to Christmas, showing no sign of their much vaunted turnarounds and ratcheting up pressure on their chief executives.
British retailers suffered a sales drop over the festive period, the latest in a long line of disappointing results for the sector.
Christmas is the busiest time of year for most retailers, but which British stores had the best performance?
LONDON, Jan 8- British grocer J Sainsbury reported its "best Christmas ever" on Wednesday but warned that consumers were likely to tighten their belts in the early part of 2014 and cut its sales growth forecast accordingly.
U.K. retailer reports lift in like-for-like sales with Christmas boosting the chain after tough trading in October and November.
LONDON, Jan 8- European stocks edged higher early on Wednesday, led by British supermarket J Sainsbury after a better-than-expected sales update. Shares in Sainsbury rose 3.3 percent at 0802 GMT after it posted a small rise in sales in the 14 weeks to Jan. 4, ahead of analysts' forecasts.
European equities closed lower on Tuesday as investors looked ahead to the U.S. Federal Reserve's last policy meeting of the year.
Supermarket Tesco reported a sharp drop in third-quarter like-for-like sales on Wednesday, as the retailer struggles to woo cash-strapped consumers ahead of the key Christmas trading period.
*Analysts forecast Q3 UK underlying sales down 1-2 pct. Tesco, which trails France's Carrefour and U.S. number one Wal-Mart in global sales, has spent more than 1 billion pounds on store revamps, more staff, new product ranges and pricing initiatives in Britain.
Sainsbury's reported half-year underlying pre-tax profit of £400 million on Wednesday, versus £374 million a year ago.
Billionaire Warren Buffett's Berkshire Hathaway last week slashed its stake in the world's No.3 retailer, Tesco, by about one-fifth, according to a stock market filing.
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.
J Sainsbury, Britain's third-biggest grocer, met forecasts with a pick-up in quarterly sales driven by growth at local convenience stores and online, outperforming rivals including market leader Tesco.