Tesco
This coverage examines Tesco’s strategy, operations, and performance within the UK grocery and retail sector. Reporting highlights store and online initiatives, product development, pricing strategies, financial results, marketing campaigns, sustainability efforts, and leadership decisions. With a focus on commercial outcomes and competitive dynamics, it provides insights for professionals managing grocery, convenience, and multi-channel retail.
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Apr- 2024 -22 AprilNews
Today’s news in brief-22/4/24
Investors from the Middle East and China are eyeing Selfridges following Signa’s financial struggles, leading to restructuring and insolvency. Central Group, a co-owner, is seeking to buy out Signa’s stake, with potential partnerships being explored with sovereign wealth funds and tycoons. Notable entities like Saudi Arabia’s Public Investment Fund and…
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22 AprilNews
Tesco boss to receive record £10m pay packet
Tesco’s chief executive Ken Murphy is set to receive a £10m pay this year, according to The Times. The unprecedented sum will come from his £1.4m salary, an annual bonus of up to £3.6m and a share-based bonus worth £5.1m in June. The payout, which is more than double his…
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15 AprilFeatures
Practical ways grocery stores can reduce food waste
Inefficient supply chains often leave grocery retailers to deal with large amounts of food waste. Other factors such as the economic pressure of unsold products, the environmental impact of wasted resources, and the ethical questions arising from discarding edible food, have increasingly thrown the spotlight on grocery retailers to improve…
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12 AprilNews
Today’s news in brief-12/4/24
Levi’s has welcomed Gianluca Flore, a seasoned executive from Burberry, as its new chief commercial officer effective 29 July . With over 20 years of experience in luxury apparel, Flore will oversee global commercial operations, reporting directly to Levi’s CEO Michelle Gass. His track record in brand expansion and profitability…
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12 AprilNews
Tesco launches ‘Best of British’ online section
Tesco has launched a dedicated ‘Best of British’ page on its groceries website, making it easier for customers across the UK to shop British grown and produced food, and support British farmers and producers. The site will bring together more than 500 British products, including hundreds of locally produced items.…
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10 AprilSupermarkets
Tesco profits soar in FY results as inflation eases
Tesco has seen pre-tax profits soar by 159.5% to £2.3bn in its full-year results, up from £882m the prior year, as shoppers began to spend more when price inflation “lessened substantially”. In its preliminary results for the year ended 24 February 2024, group sales were up by 7.4% to £61.5bn,…
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9 AprilNews
Today’s news in brief-9/4/24
No Ordinary Designer Label Limited (NODL), the retailers of the Ted Baker brand in the UK and Europe, will close 11 stores by 19 April. This decision follows the appointment of administrators and is aimed at improving the company’s performance. Authentic Brands Group, the intellectual property owner of Ted Baker,…
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9 AprilSupermarkets
Tesco launches collaborative VC fund with global grocery retailers
Tesco has become one of five leading global grocery retailers to establish a “pioneering” collaborative grocery venture fund, W23 Global. The new VC fund will seek to invest $125m (£99m) over five years into innovative start-ups and scale-ups with the potential to transform grocery retail and address the sector’s sustainability…
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8 AprilNews
Today’s news in brief-8/4/24
The John Lewis Partnership has chosen Jason Tarry, former UK boss of Tesco, as its new chairman. Tarry, with over three decades of experience in retail, will succeed Sharon White in September. White led the company through challenging times, including the COVID-19 pandemic and economic crises. Tarry’s leadership is expected…
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8 AprilPeople Moves
John Lewis Partnership appoints Jason Tarry as chairman
The John Lewis Partnership has announced it has appointed ex-Tesco UK boss Jason Tarry as its seventh chairman following Sharon White’s decision to step down at the end of her term. Tarry brings over 33 years of experience at Tesco where he was most recently the UK and Ireland CEO,…
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