International News - Blue Square blues

Israeli grocer Blue Square blamed recession, the timing of Passover and war in Iraq for a 15.3 per cent fall in first quarter revenues to Shk1.23 billion (£168 million). The store group, which has shut 12 underperforming stores, posted operating income of Shk32.1 million (£4.4 million) compared with Shk71.6 million (£9.8 million) last time.