Tesco closures prompted by discount rivals January 29, 2015 DISCOUNT rivals Aldi and Lidl could be the reason that supermarket giant Tesco decided to shut 43 of its stores. The retail group announced earlier this month that it was closing unprofitable branches across the UK, and yesterday revealed which stores it had singled out. Of the 43 listed, 74 per cent are within two [...]
Supermarkets could be hit with 1pc turnover fine if GCA gets new powers January 29, 2015 Britain's largest supermarkets could face fines if up to one per cent of their annual turnover if they treat their suppliers badly. Business secretary Vince Cable has put the measures before the House of Commons which would give new powers to the Groceries Code Adjudicator (GCA). The regulator would impose the fine depending on the [...]
Analysis: Why has Tesco chosen to shut these 43 stores? January 29, 2015 Tesco has now announced the 43 stores that it plans to close. 18 Express stores, 12 metro stores, seven superstores and six Home Plus stores. The closures will start taking effect from March. What does it tell us about their location strategy when one looks at the stores set to close? It is a [...]
Sky agrees deal with O2 owner Telefonica to launch mobile service January 29, 2015 Sky has agreed a deal with Telefonica to launch a mobile network in the UK. The broadcaster will launch a mobile service for customers in 2016 using Telefonica’s 2G, 3G and 4G networks. The move follows hot on the heels of rivals moving into the mobile business in order to offer customers so-called "quad play" [...]
Tesco store closures: 74pc of axed branches have an Aldi or Lidl nearby January 29, 2015 Discount supermarkets could be partly responsible for Tesco's plans to close 43 unprofitable stores in the UK – with the vast majority of struggling stores located near a low-price alternative. In a bid to change the fortunes of the struggling supermarket, Tesco's new chief executive Dave Lewis announced the store closures yesterday, saying the decision was [...]
Drastic Dave reveals 43 Tesco store closures January 28, 2015 TESCO chief executive Dave Lewis yesterday lived up to his nickname “drastic Dave” as the company named the 43 stores it would be closing in a bid to revive its flagging fortunes. The retailer said it would shut 30 convenience stores – including 18 Express outlets and 12 inner-city Metro shops – along with seven [...]
Tesco reveals locations of 43 stores being shut January 28, 2015 Tesco has revealed the locations of the 43 stores it plans to shut, resulting in around 2,000 job losses, as new chief executive Dave Lewis attempts to turn the struggling supermarket around. Of the stores going, 18 are Expresses and 12 are Metros. Just seven are superstores, with a further six the homeplus format. The [...]
Blinkbox sold by Tesco at loss January 26, 2015 TESCO offloaded its music streaming service Blinkbox Music to Australian firm Guvera yesterday in a deal thought to be worth around £5m, significantly less than the £12m the supermarket paid to acquire the service in 2012. The sale was quickly followed by the announcement that Tesco’s remaining digital entertainment services, Blinkbox Books, will be shuttered [...]
General Election 2015: Business ethics must be top of the manifesto writers’ agendas January 26, 2015 Tesco has taken the right step towards healing its frayed relationship with its suppliers. The supermarket giant last week launched an online network for its 5,000 suppliers where businesses will be able to interact with Britain's biggest retailer. Whilst it is encouraging to hear that big businesses like Tesco are taking responsibility for their dubious [...]
Tesco share price dips as Blinkbox Books closes ending supermarket’s digital entertainment services January 26, 2015 Tesco is closing the last of its digital entertainment services, Blinkbox Books, after failing to find a buyer for the ebook platform. The news sent shares in the supermarket down just over three per cent in afternoon trading. The struggling supermarket said it would close the service by the end of February to focus on [...]