European Retail Correspondent
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Jun 22, 2011

Kesa eyes Comet options as trade worsens

LONDON, June 22 (Reuters) – Kesa , Europe’s No. 3
electricals retailer, is considering the sale of its loss-making
Comet chain in the UK after trade across the group worsened in
its new financial year.

Chairman David Newlands told reporters on Wednesday the
group was looking at a full range of options for Comet,
including its disposal or the formation of a joint venture.

Jun 21, 2011

Carrefour CEO in frontline after stormy AGM

PARIS, June 21 (Reuters) – Carrefour handed the
chairman’s role to its chief executive at a stormy annual
meeting, in an apparent attempt to soothe angry shareholders who
question the board’s ability to stand up to powerful investors.

Carrefour Chairman Amaury de Seze on Tuesday told a stunned
meeting at a luxury conference centre close to Paris’s Louvre
museum he would propose at the next board meeting to merge the
positions of chief executive and chairman.

Jun 21, 2011

Carrefour boosts Olaffson’s role at stormy AGM

PARIS, June 21 (Reuters) – Carrefour handed the
chairman’s role to its chief executive at a stormy annual
meeting, with analysts saying the company was trying to soothe
angry shareholders who question the board’s ability to
stand up to powerful investors.

Carrefour Chairman Amaury de Seze on Tuesday told a stunned
meeting at a luxury conference centre close to Paris’s Louvre
museum he would propose at the next board meeting to merge the
positions of chief executive and chairman.

Jun 15, 2011

Sainsbury sees pick-up in quarterly growth

LONDON, June 15 (Reuters) – British grocer J Sainsbury
(SBRY.L: Quote, Profile, Research, Stock Buzz) reported a pick-up in quarterly sales growth, boosted
by a warm April, a royal wedding and expansion into non-food
markets.

Chief executive Justin King said on Wednesday the market
environment was very competitive, reflecting the challenging
economic backdrop, and expected this to be the case throughout
the year with higher fuel costs putting pressure on consumers.

Jun 14, 2011

Tesco misses sales forecasts

LONDON (Reuters) – Tesco, the world’s No.3 retailer, missed forecasts with a second consecutive quarterly fall in underlying sales in its domestic market as cash-strapped shoppers there cut back on discretionary spending.

The supermarket group said on Tuesday sales at stores open at least a year fell 0.1 percent, excluding petrol and changes in VAT sales tax, in the 13 weeks to May 28, the first quarter of its financial year.

Jun 14, 2011

Tesco misses UK sales forecasts, overseas better

LONDON, June 14 (Reuters) – Tesco (TSCO.L: Quote, Profile, Research, Stock Buzz), the world’s No.3
retailer, missed forecasts with a second consecutive quarterly
fall in underlying sales in its main British market as
cash-strapped shoppers there cut back on discretionary spending.

The supermarket group said on Tuesday sales at British
stores open at least a year fell 0.1 percent, excluding petrol
and changes in VAT sales tax, in the 13 weeks to May 28, the
first quarter of its financial year.

Jun 10, 2011

Tesco, Sainsbury seen cooling after strong April

LONDON, June 10 (Reuters) – British grocers Tesco (TSCO.L: Quote, Profile, Research, Stock Buzz)
and J Sainsbury (SBRY.L: Quote, Profile, Research, Stock Buzz) are likely to say next week that
trading has cooled again as austerity measures bite, after a
brief fillip from warm April weather and the UK royal wedding.

Carphone Warehouse (CPW.L: Quote, Profile, Research, Stock Buzz), Europe’s biggest independent
mobile phone retailer, will also give a keenly-awaited update on
its plans for a chain of British electrical goods megastores
amid signs of sliding demand for “big ticket” purchases.

Jun 10, 2011

Iceland Foods profit up, boss slams break-up talk

LONDON, June 10 (Reuters) – Iceland Foods boss Malcolm
Walker said he was confident of raising money to buy out the
majority shareholder of the British frozen food retailer and
dismissed talk the business might be broken up.

Officials responsible for winding up failed Icelandic bank
Landsbanki last month launched an auction for a 67 percent stake
in Iceland Foods, fuelling speculation growth-hungry British
grocers would line up to buy the chain or break it up.

Jun 10, 2011

Iceland Foods boss hits back over break-up talk

LONDON (Reuters) – Financing for a management-led bid for a majority stake in Iceland Foods is not a problem and the British frozen foods specialist will not be broken up, its founder and chief executive told Reuters on Friday.

Malcolm Walker rejected speculation that he and management might be tempted to sell their combined 23 percent stake if the right offer came along.

Jun 9, 2011

Home Retail sales slump adds to UK spending fears

LONDON, June 9 (Reuters) – Home Retail (HOME.L: Quote, Profile, Research, Stock Buzz), Britain’s
No. 1 household goods retailer, said cash-strapped and fearful
shoppers had cut back dramatically on purchases of consumer
electronics, raising fears of another downturn in spending.

“It is clear that consumers are continuing to tighten their
belts for big ticket purchases. This is really a big ticket and
consumer electronics issue,” chief executive Terry Duddy told
reporters on Thursday.

    • About Mark

      "Based in London, UK. Responsible for ThomsonReuters coverage of European retail companies. Previously worked as Chief Correspondent of UK Equities and before that as reporter on the UK company news desk."
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