U.K. supermarket Morrisons announced it is going into partnership with online delivery service Ocado on Friday.» Read More
U.K. supermarket Morrisons announced it is going into partnership with online delivery service Ocado on Friday.
In a growing trend, Dairy Crest, one of Britain's top producers of dairy products, has transferred 20,000 pounds of cheddar cheese to its pension fund.
Tesco wrote down the value of its global operations by $3.5 billion and announced plans to exit the U.S., after a year in which profit fell for the first time in two decades.
European shares closed lower on Tuesday as markets await the outcome of a critical vote in Cyprus to tax bank deposits.
The operator of the U.K.'s third-biggest supermarket chain J Sainsbury, beat expectations on Tuesday with quarterly like-for-like sales (excluding fuel) rising by 3.6 percent. Analysts polled by Reuters had expected a rise of just 2.3 percent.
Hedge funds are betting that a prolonged consumer squeeze and a further shift to online shopping could spell trouble for Britain's retail chains.
Rallying telecom stocks and a bullish start to the new earnings season propelled Europe's top shares to fresh 22-month closing highs.
Supermarket chain Sainsbury plans to combine cost cuts with expansion in 2013, CFO John Rogers told CNBC Wednesday, with the group determined to lure more cash-strapped consumers to its mid-range supermarkets.
Britain's Tesco, the world's No. 3 retailer, has launched a strategic review of its loss-making United States chain Fresh & Easy.