Morrisons reveals growth ‘well ahead’ of rivals

Author: By Kelly Macnamara, Press Association

The supermarket chain said like-for-like sales, excluding fuel and VAT, were
up 4.3 per cent in the 13 weeks to 1 November, a slowdown from the previous
period as falling food inflation took its toll.

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Asda delivers storming full-year sales but profits slip

Author: By James Thompson

The Wal-Mart-owned grocer said total sales surged by 11 per cent to £18.6bn
over the 12 months to 31 December 2008, compared with £16.7bn the previous
year, as its low-price message struck a chord with consumers during the
downturn. But pre-tax profits at Asda, which unveils its third-quarter sales
on Thursday, slipped to £520.4m in 2008, down from £532.7m the year before,
according to accounts filed at Companies House over the weekend. The grocer
said the fall in pre-tax profit was due to the impact of an accounting
adjustment for share options in Wal-Mart granted to Asda employees, which
resulted in an increase in share option costs of £87.7m. Excluding this
impact, Asda said its underlying profits ?grew broadly in line with sales
and were ahead of internal targets?.

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Local grocer in banana war on supermarkets

Author: By James Thompson

Andrew Thornton, who owns two Budgens in the capital, has vowed to give his
profits on bananas in November to Costa Rican workers alongside a campaign,
Play Fair, Trade Fair.

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Tesco attacks new attempt to limit grocery over-expansion

Author: By James Thompson

After Tesco won an appeal in March against the CC’s initial competition test, the commission came back with an amended proposal yesterday and formally recommended that the Department of Communities and Local Government introduce the test in planning decisions on larger grocery stores.

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Government drive to help jobless revealed

Author: By Alan Jones, PA

Firms including the Royal Mail, Microsoft, Pfizer, Phones4U, Centrica and
Morrisons will provide apprenticeships, work or training.

Prime Minister Gordon Brown is set to detail plans later today to guarantee a
job for anyone aged between 18 and 24 who has been out of work for 10
months, rather than a year as previously planned.

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Supermarket freezes fuel prices

Author: PA

Morrisons said it would not be increasing the price of petrol and diesel
despite a Government fuel duty rise.

Despite intense lobbying to get it to reverse its decision, the Government is
pressing ahead with a planned 2p-a-litre increase in fuel duty.

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Grocers face price check: Are supermarkets abusing their immense buying power

A key recommendation was to establish an ombudsman to police relations between the big grocers and suppliers, in an effort to stamp out alleged cases of bullying or the supermarkets allegedly abusing their immense buying power. The commission, which does not have the power to introduce an ombudsman itself, sought the agreement of supermarkets for this. But most have vehemently opposed the idea, arguing it would add red tape and costs, which would be passed on to customers.

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Credit crisis diary: Read all about it: inflation is back

Mandy heads for the Middle East

You’ve got to give Lord Mandelson some credit ? it doesn’t matter where in the world it is, the Business Secretary will go there if he thinks there’s even a sniff of work going for British companies. So it was yesterday that Mandy led a trade delegation to Iraq, pitching for business for British concerns in Baghdad and Basra. Apparently the country needs a modicum of help rebuilding its basic infrastructure. Can’t think why.

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