Tesco in Asia reports a 54.1% growth in profit to GBP171m. Positive sales in Asia Sales in Asia grew strongly, 8.4% year on year, to GBP2.56 bn, although the growth was registered as 1% on constant exchange rate. Like-for-like sales fell by 1.3% due to the reduced sales of general merchandise. Price investment in fresh food products and own brand expertise drove sales growth in Malaysia. In...

Tesco has announced H1 results, with group sales rising by 0.1%, or by 0.4% at constant exchange rates. Like-for-like (LFL) sales fell by 0.4% at a group level. As part of the announcement, Tesco also said that its group chief executive, Dave Lewis, was to step down and would leave the business in summer 2020. Headline results Group sales: +0.1% to £28.3 bn (+0.4% at constant exchange ra...

Tesco joins leading European retailers, including Marks & Spencer, Aldi and Carrefour, in selling only cage-free eggs in Asia. Taking the lead in Asia Since 2016, the retailer had already pledged to be cage-free by 2025 in the UK. This had been extended to Asia following investigations into Asian egg suppliers by animal protection organisation, Lever Foundation. Other food companies includi...