Morrisons Takeover Safeway Essay

NEWSUK: Tesco; beware the Wal-Mart effect (COMMENT)Not content with pocketing one in every three pounds spent on groceries in the UK, the supermarket giant Tesco has now become the first British retailer to smash the £2 bn (.78bn) profit barrier. NEWSUK: Tesco profits rise to over £2bn Tesco, the UK's biggest supermarket chain, has today (Tuesday) reported a 20.5% rise in pre-tax profits to £2.029bn (US.84bn) for the 52 weeks ended 26 February 2005....

Sirenica and hygienic, Fran Slobber, their blankets, quilted or piled up in general.

The stores are located in Acocks Green, Andover, Bitterne, East Kilbride, Eastleigh, Hammersmith, Midsomer Norton, Morden and Slough.

The company said all these stores are now open and trading well.

NEWSUK: Sainsbury profit falls sharply, but ‘recovery on track’UK supermarket J Sainsbury plc has announced a sharp fall in profit for the year ended 26 March 2005, but said its recovery plan was on track....

The stores will then be closed for six weeks while they are refurbished and reopen under the Sainsbury's fascia ahead of Christmas.

Last year, Sainsbury's acquired 14 stores from Morrisons (13 Safeway branded stores and one Morrisons store) located primarily in the Midlands and the north of England.

The sale of the stores is conditional on the approval of the UK's Office of Fair Trading.

Sainsbury's said the acquisition is expected to be completed in three tranches in the autumn of 2005.

"These stores give us over 175,000 sq ft of new space, and have an average size of around 20,000 sq ft.

They will provide an opportunity to strengthen our market position in town centre locations and deliver future growth," said Sainsbury's CEO Justin King.


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