William Morrison Supermarkets Plc plans to spend less building new supermarkets as the smallest of the U.K.’s top four grocers focuses on catching its peers by selling more online and in convenience outlets.
Carrefour SA rose in Paris while Cencosud SA slumped the most in more than a year in Santiago after the French company agreed to sell its Colombian stores to the Chilean retailer for 2 billion euros ($2.6 billion).
Carrefour SA , the world’s second- largest retailer, returned to profit in the first half of 2010 and said it’s confident of achieving full-year objectives, boosted by cost cutting and cheaper purchasing.
Royal Ahold NV, the Dutch owner of the Stop & Shop chain, left open the possibility of acquisitions as it considers how to utilize cash raised from the $3.1 billion disposal of its stake in Swedish retailer ICA.
Financial assistance for first-time home buyers in Britain is likely to prompt a resurgence of do- it-yourself spending after several years of decline, according to Kingfisher Plc Chief Executive Officer Ian Cheshire.
Ocado Group Plc , the U.K. online grocer that sold shares to the public for the first time last year, dropped as much as 18 percent in London trading after the second-biggest shareholder sold its entire stake.
Carrefour SA, the world’s second- largest retailer, is considering a proposal to merge its Brazilian assets with those of Cia. Brasileira de Distribuicao Grupo Pao de Acucar, setting up a power struggle with French rival Casino Guichard-Perrachon SA.
J Sainsbury Plc, the U.K.’s third- largest supermarket chain, reported a 34th successive quarter of same-store sales growth as the grocer increased its share of the market while its main competitors all lost ground.
Royal Ahold NV, the Dutch owner of Stop & Shop stores, said it will ramp up its online business, expand in Belgium and add convenience stores as Chief Executive Officer Dick Boer aims to reverse slowing sales growth.