Morrisons moves back into profit
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Supermarket chain Morrisons returns to profit, six months after posting its first annual loss.
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THE near-15-per-cent jump in William Morrisonâs shares yesterday shows the City is looking well beyond the short-term pain of the first fall in profits at the group in its 37-year history.
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Profits got a boost despite sluggish sales from the challenging environment.
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The FTSE 100 bounced back on Thursday after better news from the retail sector and a continued rebound among the property companies.
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Supermarket group Wm Morrison is increasing the rate at which it is converting the Safeway chain acquired in March in an attempt to limit the damage being inflicted by the underperforming stores.
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Australian supermarket group Woolworths has reported a 12% increase in second-half profit despite tough competition from rival Coles Myer.
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The retail company has another positive quarter and is buying back shares.
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Supermarket group Morrisons announces a fall in half-year profits, dragged down by losses across its recently acquired Safeway stores.
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WM Morrison shares shot up 15 per cent yesterday in spite of a deteriorating performance in the group&#39;s core business and continued poor trading in the shops that came with this year&#39;s Safeway acquisition.
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Dutch international supermarket operator Ahold has said it has swung back into profit in the third quarter 2006, posting net earnings of 210 million euros (278 million dollars) after a loss of 236 million euros in the same period last year.
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Kingfisher will reinvest Â£75m gleaned from shaking up its supply chain in lower prices this year, the do-it-yourself retailer said yesterday as it reported a sharp rise in interim profits.
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Network Rail, the owner of the UK rail infrastructure, announces a move back into profit and a reduction in rail delays.
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WOOLWORTHS has bounced back from its 12-month sales slump, yesterday producing a better than expected lift in food and liquor sales as it appeared to win customers away from rival Coles Myer in Victoria.
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Safeway Inc. , the No. 3 U.S.  grocer, posted a higher quarterly profit on Thursday, as  remodeled stores, fresh produce and prepared meals helped it to  lure shoppers.
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Safeway Inc. , the  third-largest U.S. grocery chain, posted a jump in  second-quarter profit on Thursday, aided by strong sales of  gasoline and a benefit related to a tax refund.
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Morrisons today revealed a 7.6% fall in interim pre-tax profits, as the supermarket group suffered another hit from the Safeway chain it took over in March.
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Kroger Co. KR.N, the top U.S.  grocer, on Tuesday reported that quarterly profit edged up as  it kept a tight rein on expenses and sales rebounded.