Shop Till You Drop Hits Europe

London shoppers can hardly wait for Nov. 30. That's opening day for Britain's first warehouse club, courtesy of Price/Costco Inc. of Kirkland, Wash. And even before Costco's arrival, the British are benefiting from the retailer's reputation as a steep discounter. To protect market share, local chains J. Sainsbury, Tesco, and Safeway have initiated a price-cutting frenzy that has consumers overjoyed. Says Anthony O'Neill, a homebuilder and father of four: "Please build a few more Costcos, quick."

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