supermarkets

Morrisons' former group treasurer has been sentenced to twelve months in prison after being convicted of two counts of insider trading.

Dixons Carphone co-deputy chair John Allan is to replace Richard Broadbent as Tesco chairman, the supermarket has said.

Holding on to ‘turbulent’ financials has paid off

Tesco shares rose as much as 15% today after the retailer announced plans to save £1bn, prompting a wider rally for the troubled supermarket sector.

Beleaguered supermarket Tesco is planning a cost-cutting drive which will see it cancel its full-year dividend, close stores, and appoint a new UK CEO in a bid to reverse its fortunes.

The Financial Reporting Council (FRC) is to investigate several years' worth of Tesco financial statements following the revelation the supermarket overstated profits earlier this year.

Tesco shares have opened 15% lower after the retailer said full-year profits will come in below market expectations.

Supermarket shares have risen sharply after Morrisons' interim results showed signs that the worst of an ongoing sales slump may be over.

After decades of superb growth and dividend payouts, the supermarkets have encountered an epic adversary. Is it curtains for income investors? Or are there alternatives to battered banks, insurers and oil companies? Walker Crips' Chris Kitchenham explores....

Shares in Sainsbury's fell further today after it became the latest supermarket to cut its sales forecast for the full year, following a slump in trading in the second quarter.