Tesco news and archive

Tesco to introduce hybrid flexible work spaces to its stores

British supermarket chain Tesco has revealed it will be opening up flexible office spaces in a selection of its stores as part of a partnership with workspace provider IWG. Using up its excess space, Tesco is looking to push the availability of hybrid working in UK suburbs to help improve the work-life balance for locals and reduce the need for...

13 May 2022

Business

Tesco posts increase in first half revenue and profit

Tesco plc has reported sales growth of 6.6 percent at actual rates, including a negative 0.2 percent foreign exchange translation impact due to the appreciation of sterling to 26.7 billion pounds. Revenue growth was 6.8 percent at constant exchange rates. The company said in a statement that group operating profit before exceptional items and...

7 Oct 2020

People

Tesco clothing brand F&F appoints new CEO

Tesco’s clothing brand, F&F, has appointed Jan Marchant as its new CEO. Marchant has been standing in as interim CEO for the brand after previous CEO Richard Price exited the company seven months ago to rejoin Marks & Spencer as managing director, clothing and home. A Tesco spokesperson said: “We’re delighted that Jan Marchant has been promoted...

23 Jul 2020

Business

Tesco to sell Thailand and Malaysia businesses for 8.2 billion pounds

Tesco plc has decided to sell its businesses in Thailand and Malaysia to a combination of CP Group entities, namely C.P. Retail Development Company Limited, Charoen Pokphand Holding Co., Ltd, CP All Public Limited Company and C.P. Merchandising Co., Ltd (CP Group). The company said in a statement that consideration for the disposal represents an...

9 Mar 2020

FashionFeatured

John Lewis, Asos, M&S and Next collaborate on mental health initiative for retail workers

John Lewis Partnership, Tesco, Sainsbury’s, Asos, the Co-op, Marks and Spencer and Next have all teamed up to mark World Mental Health Day by launching a mental health initiative for retail workers. In a UK industry-first, the seven leading retailers have joined together with the help of UK charity Samaritans to fund and launch a new online...

10 Oct 2019

PeopleFeatured

Tesco CEO Dave Lewis to step down as turnaround nears completion

Tesco In its interim results statement for the first half, Tesco Group said, sales grew by 0.1 percent at actual rates, including a 0.5 percent foreign exchange translation benefit due to the depreciation of Sterling to 31.1 billion pounds (38.1 billion dollars). At constant rates, the company added, sales grew in all regions apart from Central...

2 Oct 2019

Retail

Tesco to cut 4,500 jobs across Metro stores

Tesco has announced it will be cutting around 4,500 jobs in the UK as part of a plan to “simplify and reduce processes and administrative tasks” across all of its 153 Tesco Metro stores. The supermarket chain said the changes will allow it to better serve its shoppers and to run its business more sustainably. Tesco said its priority now is to...

5 Aug 2019