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Drapers Share Monitor - Sainsbury's hits out at green rivals

Eco-friendly high street retailers' green initiatives were blasted by Sainsbury's boss Justin King this week.

King was reported to have said that the likes of Tesco and Marks & Spencer were "playing catch-up" with Sainsbury's. However, its shares were flat at 550p.

Rival Tesco faced the prospect of empty shelves this week as lorry drivers and warehouse staff threatened strike action. Shares were down 2p to 459.25p.

Meanwhile, shares at department store group Beales fell 6p to 63.5p, just 1p above its year low, after it said performance would fall short of expectations with a loss of about £1 million predicted for the year to November. A tough retail environment was blamed.

Sports Direct owner Mike Ashley's proposed £133m offer for Newcastle United Football Club gave some respite to the downward spiral of Sports Direct's stock. Shares rose 5.75p to 220.25p.

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