Sunday, 24 January 2021

Tag Archives: TESCO

Tesco to repay £585 mil in virus business rates relief

LONDON: Tesco, Britain’s biggest retailer, said it will repay £585 million of Covid-19 pandemic business rates relief it received from the government as some of the risks of the crisis were behind it. Britain’s supermarket groups have performed well during the pandemic but have been criticised by lawmakers and media ...

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Tesco boss Dave Lewis will step down next summer

LONDON: Tesco boss Dave Lewis will step down next summer after declaring the turnaround of Britain’s biggest retailer complete, handing over to Ken Murphy, a former executive at healthcare group Walgreens Boots Alliance . Celebrating its 100th anniversary, Tesco, which has a 27.4pc share of Britain’s grocery market, is five ...

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Tesco to cut 4,500 jobs in Metro restructuring

LONDON: British supermarket chain Tesco is cutting about 4,500 jobs from its Metro stores to improve the efficiency of a format that is increasingly used by customers daily rather than for a traditional weekly shop. Tesco, both the biggest retailer and largest private sector employer in Britain, is restructuring operations ...

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Tesco to report jump in profit

LONDON: Britain’s biggest retailer, is expected to report on Wednesday a 27 percent jump in full-year profit, putting it firmly on track to meet the medium-term targets Chief Executive Dave Lewis set out in 2016, despite the cloud of Brexit. The supermarket group, currently celebrating its 100th year, is being ...

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Muslim couple tackled by police in Manchester purchase limit row

MANCHESTER: Two people were tackled by Manchester police officers after a purchase limit row at a Tesco superstore in Rochdale. Nasir Hussain and his wife Mahira Hussain bought a trolley-load of Volvic water, but they weren’t allowed to purchase it as store’s cashier said it was against the store’s policy. ...

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Tesco to report rising profit since Booker deal

LONDON: The supermarket giant will report to the market next week for the first time since completing its £3.7 billion takeover of wholesaler Booker, with analysts expecting a healthy rise in full year profits. Tesco is forecast to post a 22% rise in operating profit to £1.56 billion for the ...

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Tesco UK boss set to move to N Brown

LONDON: Tesco boss Matt Davies will become chairman at retail firm N Brown after leaving the supermarket giant, it is understood. The Press Association understands the serving Tesco UK and Ireland boss Mr Davies will be announced as N Brown’s chairman early next week. The retail company’s brands include JD ...

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Tesco will become the first supermarket to go food waste-free

LONDON: The supermarket giant says that all edible food products will be passed on to local charities to help nearby poor or homeless communities. Dave Lewis, who spent nearly three decades at Unilever before becoming the chief executive of Tesco in 2014, said the initiative will involve all 2,654 stores ...

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Tesco wins final approval for Booker takeover ​

LONDON: Britain’s competition regulator gave final clearance to Tesco’s (L:TSCO) 3.7 billion pound takeover of wholesaler Booker (L:BOK), tightening the grip of the country’s largest retailer on its food market. The Competition and Markets Authority (CMA) said it had concluded the deal, announced in January, does not raise competition concerns. ...

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