Tesco: Bumper Christmas sales will put shares in the spotlight this morning January 12, 2023 TESCO enjoyed a bumper Christmas period, it told markets this morning, with like-for-like sales up nearly 8 per cent despite bruising economic headwinds. The supermarket told markets this morning it had seen customers switching to Tesco across December. The boost meant revenues hit a cool £19.7bn in the UK and Ireland for the quarter to [...]
Two pints at the Tesco? Supermarket to open a London pub for coronation weekend April 20, 2023 Tesco will open a pub for the King’s Coronation right in the heart of the City as it aims to dish out affordable pints to cash strapped boozers over the bank holiday weekend. Located in London’s Farringdon, on 61 Cowcross Street, The King in the Castle, will offer a Coronation-themed menu featuring products such as [...]
Tesco pledges an ‘affordable Christmas’ as it raises profit guidance on slew of price cuts October 4, 2023 Tesco raised its profit guidance for the year ahead to up to £2.7bn, as the Big Four grocery thanked a slew of price cuts for surging revenues in its interim results. Britain’s biggest grocer’s adjusted operating profit reached £1.48bn during the term, a 13.5 per cent leap when compared to the same period the prior [...]
Santa’s every little helpers: Tesco to recruit 30,000 festive staff October 13, 2023 Britain’s biggest supermarket, Tesco, is the latest retailer to launch a massive Christmas recruitment drive, as it looks for 30,000 staff. The grocery giant said it was appealing to cash-strapped Brits, ranging from students and families, hit hard by the cost-of-living crisis, to those who stepped away from work during the pandemic and want to [...]
Tesco urges government to stick to net zero goals to boost business confidence September 6, 2023 Tesco boss Ken Murphy backed net zero, and has called on political parties to ramp up support for low carbon solutions for the food sector.
The Meal Deal Inflation Index: Tesco, Greggs, Boots and more January 5, 2023 Times are hard – with a cost of living crisis, inflation, and seemingly constant grey skies. Add strikes to the mix and it’s almost too much to get out of bed. But there is worse than even that – the hardy meal deal, the friend of the cost-conscious Londoners, is no longer quite the value [...]
Tesco on hunt for a ‘heavyweight’ boardroom figure as it swoops to replace John Allan March 9, 2023 Tesco is understood to have approached a number of “heavyweight” boardroom figures, to scope out their interests in replacing outspoken chairman John Allan. According to reports in Sky News, the FTSE 100 supermarket is working with headhunters to find a replacement for the leader who is set to leave the grocer in 2024. Allan, has [...]
Gerry Murphy to take chairman role at Tesco after John Allan resignation July 2, 2023 The UK’s biggest supermarket chain Tesco has appointed a new chairman after his predecessor stepped down amid allegations of inappropriate behaviour. Dr Gerry Murphy, current chairman of luxury fashion brand Burberry and Tate & Lyle, the ingredients maker, is to replace John Allan in the top job, Tesco said. He will take up the role [...]
Tesco prepares its quarterly results as UK competition regulator circles supermarket June 11, 2023 Tesco is set to report its first quarter trading results on Friday as the UK’s competition regulator circles the country’s largest supermarket chain over concerns about its pricing strategies. Last week, it emerged that consumer goods champion Which? had reported Tesco to the Competition and Markets Authority (CMA) over claims that it does not display [...]
Tesco buys Paperchase brand but over 800 jobs remain at risk January 31, 2023 Tesco has purchased the brand and intellectual property of Paperchase, the supermarket has confirmed, after the embattled stationary company collapsed into administration this morning. However, it has not acquired the chain’s 106 physical stores across the UK and Ireland, leaving 820 jobs at risk. The supermarket will now sell its products in its UK stores. [...]