Tesco withdraws Christmas cards from sale over forced labour claims December 22, 2019 Tesco has suspended a Chinese Christmas card supplier following reports a customer found a message written inside a card saying it had been packed by foreign prisoners who were victims of forced labour. “We abhor the use of prison labour and would never allow it in our supply chain,” a Tesco spokesperson said on Sunday. Read more: Tesco [...]
Tesco leads FTSE 100 risers as it weighs up Asia sale December 9, 2019 Shares in Tesco rose more than five per cent in early trading today, as investors welcomed reports that the company is exploring a sale of its Asian businesses. The supermarket giant has confirmed that it will launch a strategic review of options for its businesses in Thailand and Malaysia, including a potential sale. Read more: [...]
Tesco mulls sale of Thailand and Malaysia operations December 8, 2019 Tesco is mulling the sale of its business in Thailand and Malaysia, the supermarket giant confirmed today. The grocer said it had launched a review of the strategic options for the two Asian divisions, where it operates under the Tesco Lotus brand, “including an evaluation of a possible sale”. Read more: Tesco chief resigns after [...]
Lidl sales soar as big four supermarkets struggle November 12, 2019 Budget supermarket Lidl enjoyed soaring sales this autumn, as the big four grocers struggled to keep up with the German discount stores in the lead up to the crucial Christmas trading period. Lidl was the fastest growing bricks and mortar supermarket in the 12 weeks to 3 November with a sales increase of 8.8 per [...]
Tesco investigates technical issues affecting Monzo card payments November 1, 2019 Supermarket giant Tesco is investigating a technical issue affecting customers with Monzo debit cards after cardholders complained they were being charged twice for transactions. Monzo customers have complained on Twitter about issues using their cards in Tesco, prompting the supermarket chain to put up signs at some of its stores saying it could not accept [...]
DEBATE: Is the departure of Dave Lewis a problem for Tesco? October 3, 2019 Is the surprise departure of Tesco chief executive Dave Lewis a serious problem for the company? YES, says Adam Vettese, an investment analyst at multi-asset investment platform eToro. It’s going to be a challenge for Tesco. To say that Dave Lewis will be a tough act to follow is an understatement. He took over at [...]
Big Boots to fill: Meet the Walgreens exec replacing Tesco’s CEO October 2, 2019 Boots veteran Ken Murphy has been named as the successor to outgoing Tesco chief executive Dave Lewis. The City reacted with surprise this morning to the news of Lewis’ departure, and the appointment of the relatively unknown new boss. Read more: Analysts react to Dave Lewis shock departure Murphy, a qualified accountant, began his career [...]
Tesco CEO: Analysts react to Dave Lewis’ shock departure October 2, 2019 Tesco chief executive Dave Lewis this morning made the shock announcement that he is preparing to step down, saying the supermarket giant’s turnaround is complete. Lewis cited personal reasons for his decision and declared that five to six years is an appropriate tenure for a chief executive. Read more: Tesco CEO Dave Lewis quits Boots [...]
Tesco Metro prepares to slash 4,500 jobs August 5, 2019 Tesco is set to slash around 4,500 jobs across all of its 153 Metro stores, the company announced today as it battles with a tough retail environment. The cutbacks will reduce processes and administrative tasks across the stores, it said. Read more: Ocado and M&S share prices drop as they complete £750m online delivery deal [...]
Kicking up a fizz: Aldi champagne advert banned after Tesco complaint July 17, 2019 The advertising watchdog has banned an advert promoting Aldi’s own-brand champagne after Tesco complained it was misleading. Read more: TfL revises junk food ad ban after rules spark confusion In the advert, the German discount supermarket claimed customers could save 45 per cent on a selection of products when compared to rival Tesco. The products [...]
