UK: Safeway brands pricing report "flawed"
UK supermarket major Safeway has stressed that a new report lambasting its high prices is fundamentally flawed.
The research report, compiled by analysts at ABN Amro, claimed that Safeway's prices are on average 12% higher than those at sector rival Asda, the UK arm of US giant Wal-Mart. Safeway maintained however that the methodology behind the report was wrong and that it is actually in line with market leader Tesco when it comes to product pricing.
UK supermarket giant Tesco is planning to open a further 40 stores in central Europe, according to the Financial Times Newspaper....
US retail giant Wal-Mart Stores Inc, says it will open two outlets in Beijing this year, and at least one more store next year, according to an Asia Pulse report....
Overall US produce sales are soaring, but supermarkets are still losing market share to Wal-Mart, according to government figures....
UK supermarket Tesco will reveal a record £2bn (US$3.74bn) profit next week, according to the London Evening Standard newspaper....
UK supermarket Sainsbury grew faster than Wal-Mart's Asda in the twelve weeks to 27 March 2005, the first time that has happened for ten years, according to figures from market researchers TNS....
US retail giant Wal-Mart today (Thursday) said it expects sales growth for the first quarter, which runs to the end of April, to be at the low end of its predicted 3% to 5% range. ...
Wal-Mart's UK supermarket chain Asda has announced price cuts worth £100m (US$188m)....
Wal-Mart's UK supermarket chain Asda has awarded a contract to frozen food supplier Fullers Foods International to supply UK frozen vegetables for all its 274 stores in Britain....
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