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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May- 2022 -31 MayDIY
B&M appoints CEO successor as FY revenues dip
B&M has revealed that sales dipped in its latest full-year results, alongside the announcement of a new CEO, as revenue fell by 2.7% to £4.7bn against the prior year, despite increasing 22.5% on a two-year basis against FY20. Its UK fascia revenue decreased 4.1% year-on-year, largely driven by a one-year…
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27 MaySupermarkets
Asda sales drop 9.2% to £4.64bn
Asda has reported its like for like sales (excluding fuel) fell by 9.2% to £4.64bn in the period from 1 January to 31 March 2022 (Q1), compared to the “exceptional” period of Q1 2021, when the UK’s third national lockdown resulted in more meals being consumed at home. Overall, the…
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16 MayHigh Street
Jollyes unveils manager for new Stirling store amid recruitment drive
Jollyes has named the manager for its latest store in Stirling as recruitment for new colleagues gets underway. The new store at Unit 3 Burghmuir Retail Park in Stirling will open in mid-June and employ 12 colleagues. Jollyes has recruited Angela Rennie, who has worked for leading retailers including Home…
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11 MayPeople Moves
Tesco online lead departs for Google
Tesco’s managing director for online has departed the company in order to take up a similar position at Google’s cloud computing business Google Cloud. Chris Poad, who took up the position at Tesco in October 2019, has overseen the ‘Big Four’ grocers online department as it tackled the lockdown surge…
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10 MaySupermarkets
Tesco opens up supply chains to sustainable start-ups
Tesco and WWF have launched a new accelerator programme which aims to pair start-ups with Tesco suppliers to fast-track sustainability innovation in the supply chain. The partnership aims to “cut the environmental impact of food and support UK food security”. It comes as Tesco is calling on the UK government…
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4 MayHigh Street
Retail Jobs Alliance demands business rates reform
An alliance of retail companies including Tesco, Sainsbury’s, Greggs and Waterstones are forging a new coalition to urge Rishi Sunak to move ahead with reforms to Britain’s decades-old business rates regime, according to Sky News. The group, which is calling itself the Retail Jobs Alliance, has written to the chancellor…
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Apr- 2022 -19 AprilPeople Moves
Asda unveils new chief financial officer
Asda has announced the appointment of Michael Gleeson as its new chief financial officer (CFO), who is set to join the business next year. The announcement comes as Asda’s current CFO, John Fallon, has decided to leave the business and take on new challenges. Gleeson will join the company from…
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14 AprilSupermarkets
Supermarket shares crash amid Tesco profit warning
UK Supermarkets saw almost £1bn wiped off their value yesterday as the cost of living crisis began to take hold, after Tesco had warned of the future impact of rising costs and inflation in its annual report. Tesco and Sainsbury’s both saw their share prices drop following the latest update,…
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13 AprilSupermarkets
Tesco sees profits treble but warns of soaring inflation costs
Tesco has revealed its pre-tax profits more than doubled to more than £2bn, up from £636m last year, for the year ending February 26, but warned of “significant uncertainties” and said performance would be affected by the investment needed to keep prices down. Meanwhile, total revenues jumped by 6% from…
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8 AprilHR
Tesco colleagues to see 5.8% pay rise to £10.10
Tesco has unveiled a £200m investment which will see Customer Fulfilment Centre (CFC) colleagues benefit from a 5.8% increase in hourly rates from £9.55 to £10.10, effective from 24 July 2022. Tesco said the pay increase is the biggest single-year investment in hourly store/CFC pay in at least a decade,…
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