- Costco, which currently operates 15 stores in the UK, reportedly has four more on the drawing board, plus as ambitions for Ireland, if it can get the government to put aside regulations that limit the size of big box stores.
- UK retailer William Morrison Supermarkets announced that it is cutting gasoline prices by four percent, a move that is expected to be matched by Sainsbury and Wal-Mart’s Asda Group.
- The Financial Times reports that Toys R Us is getting some interest in its toy retailing operation, which it said it would consider selling earlier this year. FT says that there are at least two different groups interested in making acquiring the division, which could cost as much as $3.5 billion.
The interested parties include Permira, the European buy-out group, which is teaming with US buy-out company Apollo; Kohlberg Kravis Roberts; Cerebrus; and Bain Capital.
Toys R Us has more than 1200 stores throughout the globe. Its babies R Us division reportedly is not on the block.
- General Mills reportedly is selling its stake in Snack Ventures Europe to PepsiCo for $750 million, a move that will give Pepsi complete control of the company.
- Krispy Kreme Doughnuts reportedly missed the deadline for filing its third quarter financial report with the US Securities and Exchange Commission (SEC), an infraction that could earn it disciplinary action. The company already is being investigated by the SEC for other issues, including its repurchase of franchises and a profit warning it issued earlier this year.