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.
-
Jul- 2020 -6 JulySupermarkets
Tesco demands large supplier discounts as it preps for ‘price war’
Big Four Grocer Tesco has reportedly demanded discounts of up to 50% from suppliers as it prepares for a price war with Aldi and Lidl. According to the Sunday Times, Tesco has given suppliers up until Friday 10 June to accept the terms which will likely be funded by abandoning…
Read More » -
Jun- 2020 -26 JuneNews
Tesco sales soar as online business booms
Tesco saw sales surge in the first quarter of trading, with like-for-like sales up 8.2% despite the pandemic and nationwide lockdown. In the quarter ended 30 May, total sales were up by 9.2%, while online sales soared by 48.5% as more shoppers shifted online. The group doubled its online capacity…
Read More » -
18 JuneNews
Tesco offloads Polish arm
Tesco has confirmed the offload of its Polish business through its sale to Salling Group A/S. The transaction includes the sale of 301 stores, as well as its associated distribution centres and head office. The deal had a total value of zł900m (£181m), with total net proceeds expected to be zł819m…
Read More » -
16 JuneOnline & Digital
Covid-19 to add £5.3bn to UK e-commerce in 2020
The surge in online shopping caused by the Covid-19 pandemic is expected to add £5.3bn to UK e-commerce sales this year, to reach a total of £78.9bn. This is according to analysts at Edge Retail Insight, the global trend forecasting arm of retail insights firm Edge by Ascential, which have…
Read More » -
8 JuneSupermarkets
FRC closes five-year investigation into Tesco
The Financial Reporting Council (FRC) has announced the closure of a five-year investigation into the accountants working within ‘Big Four’ grocer Tesco. The investigation itself related to the £250m overstatement of profits it reported in 2014, and the UK watchdog said the matter has now been closed “without service of…
Read More » -
2 JunePeople Moves
Tesco CFO Alan Stewart announces plans to step down
Tesco has announced that CFO Alan Stewart has decided to retire from the position and leave the company on 30 April 2021. The company board is now conducting both an internal and external search to identify a successor. Stewart joined the grocer in 2014, as a member of the board…
Read More » -
May- 2020 -28 MayComment
The time for retail to be re-imagined
2020 has seen retailers experience some of their most challenging times, an unprecedented fall or rise in demand during a global pandemic never before seen on this scale. As retailers grappled with their immediate response to Covid-19, it’s undoubtedly a once in a generation test of business continuity. As retailers…
Read More » -
14 MaySupermarkets
Tesco Boss Dave Lewis handed £6.42m pay package
Tesco chief executive Dave Lewis has been given a £6.42m pay package, including £4.8m in bonuses. Lewis, who is set to leave the big four grocer in September, has seen his pay increase by more than a third due to an increase in both annual and share price bonuses to…
Read More » -
Apr- 2020 -28 AprilCoronavirus
Tesco begins laying off some of its 45,000 temporary workers
Supermarket giant Tesco has reportedly begun laying off some of the 45,000 temporary workers it hired to help meet the surge in demand during the beginning of the coronavirus outbreak. According to the Telegraph, some of the job cuts have come earlier than expected with temporary staff in one store…
Read More » -
9 AprilSupermarkets
Tesco defends £635m dividend payout
‘Big Four’ grocer Tesco has defended its £635m dividend payout to shareholders, despite it receiving a £585m tax break. Last night (8 April), the company’s board approved a final dividend of 6.50p, bringing the full-year dividend to 9.15p. According to the Guardian, Tesco chairman John Allan said paying its shareholders…
Read More »
