City File: Retailers fear hungry CostCo

TESCO, Argyll and Sainsbury's beware: CostCo is gonna get ya.

The US warehouse club specialist unveiled a dollars 2.3bn (pounds 1.5bn) merger with PriceCo on Friday, and on Wednesday the invader will learn whether the food retailers have won their case to stop it opening stores in the UK.

While not wishing to predict the outcome of a High Court ruling, the guys at CostCo are looking pretty happy, and the food retailers are feeling glum. This depression is probably going to hit the already soggy shares of the food retailers. Only KwikSave looks safe.