Sainsbury shakes up British retail landscape with Home Retail bid
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London
THE British retailing landscape just shifted.
Beset by competition from discounters and online encroachment from the likes of Amazon.com Inc, J Sainsbury chief Mike Coupe has decided that the best plan is to fight his way out of a corner. His rejected advance on Home Retail Group marks a shift in strategy for a profit-challenged industry that has mostly avoided consolidation as a means of growth."Sainsbury's approach serves as a reminder of the weakness of UK food retailers and the desperation embedded in their strategic thinking," Tony Shiret, an analyst at Haitong Securities, said in a note.
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