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Tesco 'reassured' on India retail sector

Agence France-PresseMay 13, 2013 06:30
The boss of British supermarket Tesco held talks with officials in New Delhi Friday about India's new foreign investor retail policy as the chain decides on its strategy for the emerging market giant. The meeting between Tesco chief executive Philip Clarke and Indian officials came after the government last September changed its rules to allow international supermarkets to establish multibrand stores in the potentially lucrative sector.

Tesco quits U.S. and takes £2.3 billion global write down

April 17, 2013 02:30
By James Davey and Kate Holton LONDON (Reuters) - Britain's biggest retailer, Tesco, wrote down the value of its global operations by $3.5 billion (2.3 billion pounds) and announced plans to exit the United States, as it tries to rebuild after a year when profit fell for the first time in two decades.

Tesco profit fall to reflect cost of fightback

April 16, 2013 02:15
By James Davey LONDON (Reuters) - Tesco <TSCO.L>, Britain's biggest retailer, is expected to report its first fall in underlying annual profit in two decades, reflecting the cost of a turnaround plan launched after last year's shock profit warning. The group, the world's third largest retailer after Wal-Mart <WMT.N> and Carrefour <CARR.PA>, was one of Britain's most consistent companies in terms of earnings growth until it issued the profit alert in January 2012.

Tesco's year-old revamp weaned on fresh food focus

April 12, 2013 03:00
By James Davey LONDON (Reuters) - After a decade pushing its non-food business, Tesco <TSCO.L>, Britain's biggest retailer is changing, and a conspicuous focus on fresh produce greets shoppers at its newly styled superstores. "Customers were saying they felt we didn't have the right products in our shop," said Kiran Sudan, store manager at the recently refurbished Kensington superstore in west London, whose catchment area is a multi-cultural mishmash of affluent dwellings and social housing.

NAB to recover outstanding Tesco dues from defaulters

April 9, 2013 03:01
The National Accountability Bureau Peshawar has started campaign for recovery of TESCO arrears from FATA consumers to accomplish the task assigned by the Federal Government. According to a spokesman for TESCO, the matter pertaining to recovery of the arrears from the defaulters of FATA except domestic consumers were discussed in a meeting of TESCO Chief Executive Officer Pervez Khankhel Swati and NAB Authorities here the other day.TESCO has provided lists of defaulters to NAB for recovery of outstanding arrears under the National Accountability Ordinance 1999. The Bureau is bei

Tesco takes on rivals with instant vouchers in new price pledge

March 10, 2013 12:45
LONDON, March 10 (Reuters) - Tesco, Britain's biggest grocer, will on Monday launch its first major push on prices under new UK boss, Chris Bush, as it battles to win back market share lost to rivals. The company said on Sunday that its new "Price Promise" will compare at the tills the overall cost of a basket of branded, own-label and fresh food against the same or equivalent products from Wal-Mart's Asda, the No.2 grocer, third-placed J Sainsbury and No.4 Wm Morrison.

Tesco says will source more British meat

February 27, 2013 05:30
* CEO says Tesco will source "closer to home" * From July all chickens sold in UK will come from UK * Says can't guarantee won't mean higher prices LONDON, Feb 27 (Reuters) - Tesco, Britain's biggest retailer, said it would buy more meat from its home market as part of its response to the discovery of horsemeat in beef products that has shaken consumer trust in supermarket supply chains.

Tesco says to close depot, relocate workers

February 25, 2013 14:45
LONDON, Feb 25 (Reuters) - Tesco, Britain's biggest retailer, plans to close a distribution centre near London where 800 people are employed. The firm said the depot in Harlow, northeast of the capital, was one of its distribution centres being closed following a strategic review. It said employees would be offered jobs at other Tesco sites or at two new distribution centres in the south of England where it would created 2,000 jobs.

Tesco drops Irish beef burger supplier

January 30, 2013 06:00
LONDON, Jan 30 (Reuters) - Tesco, Britain's biggest retailer, said on Wednesday it had dropped the Irish supplier of frozen beef burgers that sparked a scandal by testing positive for horse DNA. Tesco said it would not take any more products from Silvercrest, a unit of ABP Food Group, and said it would now introduce a comprehensive system of DNA testing across its meat products. There was no immediate response for a request for comment from ABP.

UPDATE 1-Recovering Tesco puts pressure on rivals - Kantar

January 29, 2013 09:02
* Tesco sales up 3.3 pct in 12 weeks to Jan 20 * Tesco market share maintained at 30.4 pct * Kantar says Tesco putting rivals under pressure LONDON, Jan 29 (Reuters) - Tesco, Britain's biggest grocer, has maintained its market share and matched the market's growth for the first time since June 2011, according to industry data on Tuesday. Market researcher Kantar Worldpanel said Tesco's sales increased 3.3 percent in the 12 weeks to Jan. 20, giving it a market share of 30.4 percent and putting its rivals under pressure.
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