European equities closed mostly higher on Wednesday as investors reacted to a slew of earnings reports and data, as the euro rallied against the dollar.» 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.
UK shoppers have turned their backs on traditional U.K. supermarket chains in favor of discount German retailers.
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.
Across the U.K., supermarkets have seen unprecedented demand for luxury foods over the festive period, with sales of caviar booming to record highs.
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).
LONDON, Jan 7- Strong demand for premium foods and clothing helped British grocer J Sainsbury to beat Christmas sales forecasts, though it continued to lose market share to discounters and warned of another tough year for mainstream supermarkets. The company, which trails troubled market leader Tesco and Wal-Mart Stores' Asda by annual sales, said on Wednesday...
Sales at U.K. supermarket J. Sainsbury fell in the last three months, the company said on Wednesday, after a tough Christmas for Britain's grocers.
Christmas comes just once a year – but the problems affecting the big U.K. supermarkets are expected to linger all year long.
*UK retail sales beat forecasts to rise 6.4 pct y/y in Nov. *GRAPHIC: UK retail sales http://link.reuters.com/raz24v. The Office for National Statistics said the volume of goods bought at British stores last month jumped by 6.4 percent from November 2013.
European shares closed sharply lower on Tuesday as a slide in Chinese and Greek equities weighed on investor sentiment.
European shares closed lower on Monday, with construction stocks continuing to weigh heavily after Wall Street opened down.
U.K. activist investment fund Crystal Amber is in talks with investors about buying shares in Sainsbury's, The Sunday Telegraph newspaper said.
European shares closed flat on Tuesday as investors digested revised third quarter GDP data from the U.S.
The U.K. grocery market has fallen into decline for the first time on record, as discount retailers lead a price war.
European shares closed lower on Wednesday, with investors shunning banking stocks after regulators announced penalties.
Supermarket chain Sainsbury's reported half-year underlying pre-tax profit fell 6.3 percent to £375 million ($596.8 million).
European stocks ended the day in the green on Tuesday afternoon, after fluctuating throughout in the day.