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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Feb- 2023 -21 FebruaryDIY
Wilko unveils new leadership team
Wilko’s new CEO Mark Jackson has announced a new senior leadership team which forms part of its plan to stabilise the business and “accelerate” its turnaround. The group has appointed Dave Murphy, currently group finance director, as its new CFO replacing Karen Mackay, who has resigned from the company and…
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21 FebruarySupermarkets
Tesco gives staff third pay rise in 10 months
Tesco has announced that it has agreed to raise its staff’s hourly wages by 72p from £10.30 to £11.02. This represents the third pay increase given out by the supermarket in the last 10 months and an investment of more than £230m. The combined investment in hourly pay over the…
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20 FebruarySupermarkets
Tesco explores sale of banking arm
Tesco is reportedly set to launch a review of its banking arm which could lead to the sale of the business. According to Sky News, the supermarket giant is drafting in Goldman Sachs to help advise on the future of Tesco Bank. Sources told Sky that the review was at…
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17 FebruaryPeople Moves
Harvey Nichols appoints ecommerce director
Harvey Nichols has announced the appointment of Annabel Thorburn, the current senior vice president of ecommerce at Sweaty Betty, as its new ecommerce director, Drapers has reported. Thorburn, who will report to CEO Manju Malhotra, will take up her new role at the high end department store on 17 April,…
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13 FebruarySupermarkets
Former Aldi CEO in running to replace David Potts at Morrisons
Former Aldi CEO Matthew Barnes is reportedly in the running to replace David Potts as CEO of Morrisons, according to This is Money. The paper recently claimed that Tesco executive Jason Tarry was also lined up as a possible candidate to replace Potts in the role. Tarry is chief commercial…
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13 FebruaryHigh Street
Paperchase unsecured creditors left with £20m bill
Paperchase’s unsecured creditors have been stuck with a £20m bill from its period in administration, according to The Times, after the company collapsed for the second time. The stationary retailer’s creditors have been notified that they will be receiving dividends of 2.52% from the sale of assets that has been…
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10 FebruarySupermarkets
Iceland refinancing prospects strengthen amid improved guidance
Iceland has reported a “better than expected” guidance, and as a result, the retailer believes its prospects for a £750m refinancing have improved. The retailer’s latest improved guidance, which was recorded by ratings agency Moody’s, shows that EBITDA is expected to grow by around £115m by the end of the…
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6 FebruarySupermarkets
Tesco exec Jason Tarry touted to replace Morrisons CEO
Tesco executive Jason Tarry has been identified as a potential replacement for Morrisons CEO David Potts, according to reports from This Is Money. Tarry is chief commercial officer at Tesco and has previously worked with Potts. He is also a former colleague of Morrisons chairman Sir Terry Leahy, who ran…
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1 FebruarySupermarkets
Tesco acquires Paperchase IP in pre-pack deal
Tesco has acquired the intellectual property and brand of embattled stationery retailer Paperchase for an undisclosed sum in a pre-pack deal. The brand’s 106 stores are not part of the deal leaving the future of its 820 members of staff in doubt. The news comes less than a year after…
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1 FebruarySupermarkets
Grocery Price inflation hits record 16.7%
Grocery price inflation hit a record 16.7% in the four weeks to 22 January 2023, according to Kantar, the highest level since it started tracking the figure in 2008. Overall take-home grocery sales rose by 5.7% during the 4 week period and by 7.6% over the 12 weeks. Aldi was…
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