Tesco Plc Chief Executive Officer Terry Leahy , who said yesterday he will step down next year, came to dominate the U.K. retail market. He’s leaving the rest of the world and a crowded domestic industry to his successor.
Ocado Ltd., the unprofitable U.K. online grocer, hasn’t received enough orders for all the stock on sale in its initial public offering, a day before the deadline for taking orders expires, according to two people with knowledge of the matter.
Tesco Plc, the largest U.K. retailer, said a decline in domestic sales resumed in the third quarter as shoppers tightened their purse strings and turned toward both discount grocers and more upscale competitors.
Carrefour SA, the world’s second- largest retailer, said third-quarter sales advanced 6.7 percent, narrowly beating analysts’ estimates, as growth in Latin America and Asia made up for European declines.