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Report: Tesco growth to outpace competitors
London -- A survey released Thursday said sales growth at Britain's Tesco PLC, the world's third biggest retailer, will outpace its major international rivals -- including Wal-Mart Stores -- in coming years as it expands in Asia, the Associated Press reported.
The report by London-based food and grocery analyst IGD says that Tesco will grow its business at a compound annual rate of 7.5% between 2010 and 2015, taking sales to euro106 billion ($143 billion). -
Liz Clairborne narrows loss
New York City -- Liz Claiborne narrowed its fourth-quarter loss as the company trimmed expenses. But it issued a lackluster outlook for its coming fiscal year.
The company said Thursday that it lost $30.1 million, compared with a loss of $41.7 million in the prior-year period.
Revenue dropped 7% to $703.7 million from $756.5 million, down mostly because of a transition in the licensing model under its J.C. Penney Co. and QVC deals.
Still, the results topped Wall Street's $684.6 million