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Company news in briefThe news in brief. Festive resultsIt was a mixed Christmas shopping bag for retailers with both winners and losers in the sector.Tesco reported 'solid' trading and both Morrisons and Sainsbury's posted positive results as did the Co-operative Group. Meanwhile Marks and Spencer revealed a woeful festive trading period and lost 20 per cent of its share value.
Somerfield sale?Speculation continues on the possible sale of grocery chain Somerfield. The 900-strong chain has attracted interest from some of the biggest players in the sector who are keen to increase their presence in town centres.Somerfield is currently owned by a consortium of private investors following a £1.1bn deal in January 2006. Since then around 600 of its stores have been sold off, which included the Kwik Save brand.
Retail battle USATesco's entry into the convenience market in the USA is set to face a further challenge after the world's biggest grocer Wal-Mart, owner of ASDA, announced its intention to open similar type stores in Arizona later this year. Tesco opened its Fresh & Easy format in 2007. Wal-Mart's Marketside format is expected to open by the summer.
Argos warningThe slowdown in consumer spending is becoming more evident, according to Home Retail Group (HRG) the owner of Argos and Homebase.HRG said that short-term sales growth would be more difficult, although the company still expected to reach its full-year targets.
Woolies struggleUnder-pressure high street retailer Woolworths came under further pressure after it revealed weak trading over Christmas.The company's share price has plunged by 75 per cent in the last 12 months
Sainsbury's buy inUK supermarket chain Sainsbury's has bought family owned Curley's supermarkets in Northern Ireland in a multi-million pound deal.The 400 staff employed at the sites at West Belfast and Dungannan will be transferred. Sainsbury's hopes to create an additional 200 jobs at the Belfast site.
Boots boostAlliance Boots was one of the big Christmas winners with sales well ahead of 2006 levels. Printer Friendly Page  Email to a Friend
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