Retail chiefs to meet with Treasury amid fears of fading interest in online sales tax June 20, 2022 Top retail bosses will meet with a Treasury minister later this week with the hopes of reigniting government interest in launching an online sales tax and reforming the current rates system. According to a report by Sky News, executives from retail powerhouses including Amazon, Asda, ASOS, Currys and JustEat Takeaway, are to meet with the [...]
Tesco profit guidance ‘unchanged’ despite 1.5 per cent fall in sales amid ‘incredibly challenging’ environment June 17, 2022 Tesco said its profit guidance for the coming year remained “unchanged” despite experiencing a 1.5 per cent fall in underlying sales in the first quarter of 2022. Britain’s biggest grocery store recorded its sales for the first 13 weeks up until the end of May, and said its profit and cash outlook will stay the [...]
Battle of the brands: Lidl accuses Tesco of copying logo in High Court dispute June 13, 2022 Lidl has accused rival Tesco of copying its logo to “ride on the coattails of Lidl’s reputation as a discounter.” The claim was made by the German supermarket chain during a High Court dispute, in which Lidl said the logo for Tesco’s Clubcard Prices was too similar to its own – a yellow circle with [...]
Tesco to reveal consumer spending habits with update this week June 12, 2022 Supermarket giant Tesco is set to shed more light on how customer spending is holding up as shoppers deal with rapidly increasing food inflation. The UK’s biggest grocer will reveal how trading has performed over the three months to May when it updates shareholders on Friday June 17. Tesco has been resilient despite pressure on [...]
‘Misleading’: Watchdog bans Tesco Plant Chef ads after lacking environmental evidence June 8, 2022 Adverts for Tesco’s plant-based burgers ‘Plant Chefs’ have been banned for its “misleading” claims about its environmental impact compared to meat. In October and November 2021, Tesco ran ads which featured a woman about to eat while hearing the words on TV about the benefits of the Tesco Plant Chef burger. “The planet is continuing [...]
City veteran John Allan prepares to step down as Barratt chair June 4, 2022 Titan housebuilder Barratt is planning to begin a search for a new chairman, with City grandee John Allan to step down. According to reports by Sky News, Allan, who also chairs the country’s largest supermarket, Tesco, is readying to hand over the reins of the construction giant. Barratt has reportedly asked headhunters at Russell Reynolds [...]
Hatching a plan: Tesco to use 100 per cent British eggs for next five years May 26, 2022 Tesco has committed to use 100 per cent British eggs after signing lengthy contracts with five suppliers. The supermarket giant signed up its main producers to five year deals this week, against the backdrop of challenging market conditions, rising costs of living and inflation. It made the announcement as farmers also face supply chain problems, [...]
Tesco will plough ahead with removing multi-buy promotions on sugary foods despite government delay May 19, 2022 Supermarket giant Tesco has announced it will continue with plans to remove volume-led promotions of sugary foods, despite the government pushing back legislation by a year. The supermarket said this decision had been taken after customer feedback that they wanted the business to help them make healthier choices. Removing ‘buy one get one free’ promotions [...]
Tesco to increase payments to pig farmers by £6.6m amid ‘unprecedented costs’ May 16, 2022 Supermarket giant Tesco has announced it will increase payments to pig farmers by £6.6m, as the industry faces price hikes for wheat and soya. Total support for Tesco farmers will stand at £10m since March, as the farming sector faces staggering commodity price inflation. Feed prices have shot up since Russia’s invasion of Ukraine earlier [...]
Tesco chief Ken Murphy collects £4.7m: 224 times overall pay of median staff member May 13, 2022 Ken Murphy, the chief of supermarket giant Tesco, received a £4.74m pay packet for the past year, the group has revealed in its annual report. The report, which was filed on Friday morning, said Murphy’s bumper total pay deal was 224 times the overall pay of the median member of staff at Tesco. It comes [...]
