User: rohan Topic: Foreign Direct Investment in Retail
Category: Big Box Retailers :: Tesco
Last updated: May 02 2018 17:47 IST RSS 2.0
 
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Britain's Ocado lands third major deal in six months 2.5.2018 General News
LONDON/STOCKHOLM (Reuters) - British online supermarket pioneer Ocado has signed a partnership with Swedish market leader ICA Group, its third major deal in six months as food retailers race to meet the challenge of online competition.
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Sainsbury's Asda buy could make UK tougher grocery market for Amazon 1.5.2018 General News
LONDON (Reuters) - Sainsbury's $10 billion purchase of Walmart's Asda may pressure UK grocery prices and make the British market less attractive for newer players such as Amazon.com .
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Sainsbury's to top Britain's Tesco with $10 billion swoop on Walmart's Asda 30.4.2018 General News
LONDON (Reuters) - Sainsbury's is to buy Walmart's Asda for around 7.3 billion pounds ($10 billion) in a bold attempt to overtake long-time leader Tesco as Britain's biggest supermarket group by market share.
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Walmart to sell UK unit as it seeks growth in online sales 30.4.2018 General News
Walmart has agreed to sell its British unit, Asda, to local rival Sainsbury's in a 7.3 billion pound ($10.1 billion) deal as the US giant focuses on online sales in countries with higher growth and less intense competition. The cash and stock deal will also reshape Britain's supermarket industry. It combines the No. 2 and No. 3 supermarket chains, with a total 31.4 per cent share of the market that would put it ahead of the current leader, Tesco, according to data from Kantar Worldpanel. "This is a transformational opportunity to create a new force in U.K. retail," Sainsbury's CEO Mike Coupe said in a statement. Shares in the company jumped as much as 21 percent in London. The move highlights the competition in Britain's grocery market as discounters take market share from traditional chains such as Sainsbury's and Tesco. The deal combines Asda's strong presence in northern England with Sainsbury's larger operation in the south, creating a company with more than 2,800 stores across ...
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Sainsbury's in $10 billion swoop on Walmart's Asda to create top UK supermarket 30.4.2018 General News
LONDON (Reuters) - Sainsbury's has agreed to buy Walmart's Asda for about 7.3 billion pounds ($10 billion) to create Britain's biggest supermarket group by market share, overtaking long-standing leader Tesco.
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Sainsbury's in $10 billion swoop on Asda to create top UK supermarket 30.4.2018 General News
LONDON (Reuters) - Sainsbury's has agreed to buy Walmart's Asda for about 7.3 billion pounds ($10 billion) to create Britain's biggest supermarket group by market share, overtaking long-standing industry leader Tesco.
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UK supermarket giants Sainsbury's, Asda agree merger 30.4.2018 General News
Britain's second and third biggest supermarket chains Sainsbury's and Walmart-owned rival Asda have agreed to merge, the pair said today, creating a retail king that would leapfrog current leader Tesco. The blockbuster deal comes as the UK retail sector faces squeezed profit margins due to fierce competition from German-owned discounters Aldi and Lidl -- as well as major online players like US titan Amazon. "Sainsbury's and Walmart Inc. are pleased to announce that they have agreed terms in relation to a proposed combination of Sainsbury's and Asda Group Limited, a wholly owned subsidiary of Walmart, to create an enlarged business," they said in a statement after confirming advanced talks over the weekend. The transaction values Asda at 7.3 billion (USD 10 billion, 8.3 billion euros). Walmart will own 42 per cent of the combined business and also receive 2.97 billion in cash. However, it still remains subject to approval from Britain's Competition and Markets Authority (CMA) ...
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Sainsbury's, Walmart's Asda in talks to create UK grocery leader 28.4.2018 General News
LONDON (Reuters) - Sainsbury's and Walmart's Asda are in talks to create Britain's biggest supermarket group, overtaking Tesco by market share in a combination of their UK businesses worth up to 15 billion pounds ($20.7 billion).
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Sainsbury's and Walmart's Asda close to 10 billion pound merger: source 28.4.2018 General News
LONDON (Reuters) - Sainsbury's, Britain's No. 2 supermarket, and Asda, the UK arm of Walmart that is the No. 3 player, are close to securing a merger deal, a source with knowledge of the situation told Reuters on Saturday.
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Nestle, Unilever forgo price increases to move product 19.4.2018 General News
ZURICH/LONDON (Reuters) - First-quarter sales growth at Nestle and Unilever was driven almost entirely by shifting more goods, in a stark illustration of how hard it is for consumer products makers to raise prices in a competitive retail environment.
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Nestle, Unilever forego price increases to move product 19.4.2018 General News
ZURICH/LONDON (Reuters) - First-quarter sales growth at Nestle and Unilever was driven almost entirely by shifting more goods, in a stark illustration of how hard it is for consumer products makers to raise prices in a competitive retail environment.
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UK retail sales suffer worst quarter in a year after March snow 19.4.2018 General News
LONDON (Reuters) - British retail sales recorded their biggest quarterly fall in a year during the three months to March, after unusually cold and snowy weather kept shoppers at home.
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U.S. Supreme Court struggles with e-commerce sales tax case 17.4.2018 General News
WASHINGTON (Reuters) - U.S. Supreme Court justices on Tuesday appeared uncertain whether to let states force out-of-state online retailers to collect sales taxes on purchases in a fight potentially worth billions of dollars pitting South Dakota against e-commerce businesses.
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Hammerson shares slump as Klepierre walks away from deal 13.4.2018 General News
(Reuters) - French shopping centre operator Klepierre has abandoned a 5 billion pound bid for Hammerson, accusing the British property company of failing to provide "meaningful engagement" over a potential deal.
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Tesco profit surge and Booker boost defy UK retail gloom 11.4.2018 General News
LONDON (Reuters) - Britain's biggest retailer Tesco bucked a grim start to the year for the sector with a 28 percent surge in annual profit and a punchy revenue growth target for the newly acquired Booker wholesale business.
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Tesco defies UK retail gloom with surge in profit 11.4.2018 General News
LONDON (Reuters) - Britain's largest supermarket Tesco bucked a grim start to the year for the retail sector with a 28 percent surge in annual profit, underlining Chief Executive Dave Lewis' recovery strategy of lower prices and streamlined product ranges.
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German billionaire missing in Alps since Saturday 11.4.2018 General News
Authorities in Switzerland and Italy are searching for a German billionaire who has been missing in the Alps since the weekend. Karl-Erivan Haub, heir to the Tengelmann retail empire, failed to return from a ski excursion Saturday near Switzerland's famous Matterhorn peak on the border with Italy. A spokeswoman for Tengelmann, Sieglinde Schuchardt, said Wednesday that there was no news yet on the fate of the 58-year-old. Haub who was born in Tacoma, Washington and his brother Christian have led the company since 2000. Tengelmann's main businesses are the hardware store Obi and clothing retailer KiK. It also has large stakes in the Netto supermarket chain and online retailer Zalando.
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Come for your drugs, leave with more shopping: Walmart's new growth strategy? 31.3.2018 General News
(Reuters) - Walmart Inc's efforts to develop closer ties with health insurer Humana Inc, which came to light on Thursday, point to a brave new world of retail where superstores become healthcare centres offering basic medical care.
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Exclusive: Tesco veteran to head Walmart's Jet.com as U.S. grocery wars flare 26.3.2018 General News
(Reuters) - A grocery industry veteran who led U.K. retailer Tesco Plc's online operation was named president of Walmart's Jet.com e-commerce business in the retail behemoth's latest move to grab a bigger piece of the intensely competitive sector.
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Two major Booker investors back Tesco deal amid growing dissent 23.2.2018 General News
LONDON (Reuters) - Two leading investors in British wholesaler Booker are backing a takeover by retail giant Tesco, despite a late push by an activist hedge fund and shareholder advisers to secure better terms.
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