Woolworth Stores Moved Into Profit

UK retailer Woolworth moved back into profit as it announced a tie-up with supermarket chain Somerfield. Profits were £3.4 million for 12 months ending Feb. 2, up from a £12.9 million loss in the previous year. Analysts suggested that the move back to profit would speed up the prospect of a de-merger of the retail chain from Woolworths’ wholesale book, CD, and DVD business EUK.