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Latest news about Morrisons, Tesco, Greggs, The Restaurant Group and M&S

Morrisons share price slides as it warns on profit
Wm Morrison boss Dalton Philips said it missed out on the usual seasonal surge in footfall over Christmas because of competition from discounters and the lack of an online presence, as the supermarket chain was forced to issue a profit warning.

Tesco admitted yesterday that full year profits could be as much as £150m below expectations as Britain’s biggest supermarket retailer reported another heavy decline in like-for-like sales over the Christmas trading period.

Baker Greggs and FTSE 250 firm The Restaurant Group, owner of the Garfunkel’s and Frankie & Bennys chains, both saw their share prices boosted yesterday after reporting fourth quarter results that beat expectations.

M&S chief executive Marc Bolland yesterday denied that the retailer had sparked this Christmas’s frenzied discounting as the chain’s clothing sales fell for a 10th consecutive quarter.

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