Retail News

London - Supermarket giant Tesco announced a second drop in annual profits in a row on Wednesday, leaving Britain's biggest retailer hoping that recent expansion into India and China can offset weakness in Europe.

Geneva - Attempts by tobacco-producing nations to sink a landmark law in Australia requiring plain packaging for cigarettes and cigars gained pace Tuesday as Cuba and the Dominican Republic stepped up their fight at the World Trade Organization.

Washington - US retail sales leaped higher in March, giving further evidence of stronger economic activity after a particularly brutal winter, government data showed Monday.Retail and food services sales surged 1.1 percent from February to $433.

Athens - Police in Athens scuffled with protesters opposed to shops opening on Sunday, a week before Orthodox Easter.The incident occurred on the capital's main shopping street.

London - Chinese conglomerate Sanpower has agreed to buy a majority stake in British department store House of Fraser in a deal worth £480 million (578 million euros, $800 million), according to a joint statement.

New York - Wal-Mart announced Thursday a deal with organic foods pioneer Wild Oats to sell discounted organic products in its US stores, a move expected to shake up the booming sector.

New York - Online retail giant eBay said Thursday it had reached a deal with activist investor Carl Icahn, who had demanded a spinoff of the payment division PayPal.

London - High street retailer Marks & Spencer posted rising fourth-quarter sales on Thursday, boosted by strong performances for clothing and food, and also at its international division. Sales climbed 1.

New York - US retail giant Wal-Mart Stores plans to add 50 new wholesale stores in India as it seeks growth in a key market where it has been unable to launch retail stores.

Sydney - David Jones announced Wednesday it intends to recommend a takeover offer from South African retailer Woolworths that values the Australian department store operator at about $2 billion.