Tesco news

Tesco has reported highly encouraging full year 2017/18 results, with a further recovery in profits, driven by strong trading momentum in the UK and Ireland. Headline results Group sales: +2.3% to £51.0bn (+0.6% at constant exchange rates). LFL sales +0.7% UK LFL sales +2.2%, lifted by consistently strong performance in fresh food UK LFL sales now positive for nine consecutive quar...

Tesco Central Europe (CE) reported signifcantly improved profits in full year 2017/18 results, driven by effective cost saving intitatives, but at the expense of marginal sales growth. Headline results Tesco Central Europe (CE) sales decline by 1.6% at constant exchange rate with closure of unprofitable stores CE 0.3% like-for-like sales growth offset by growth in food of 1.2% and con...

New data from Kantar Worldpanel provides mixed signals about the state of the grocery market, with the figures impacted by weather disruption, the timing of Easter and lower inflation. Overall sales growth slowed significantly to 2.5% in the 12 weeks to March 25th, from 3.2% in the 12 weeks to February 25th. Lower inflation and adverse weather reduce growth The data suggests that overall lo...

In a wide ranging interview at Retail Week Live, Tesco's Chief Product Officer Jason Tarry has spoken of how stronger supplier relations are crucial to Tesco's future and provided new insight around its strategy. Supplier relations: "Great progress but more to do" Commenting generally on collaboration with suppliers, Tarry said the closer businesses work together "the better we do as joint ...

New data from Kantar Worldpanel points to encouraging performances from Morrisons and Tesco as weaker inflation created more opportunities for volume growth across the market. Volume growth returns as as inflation eases Value growth in grocery sales slowed in the 12 weeks to February 25th was 3.2%, down from a peak of 3.8% in December. This easing largely reflects a drop in inflation which ...

Tesco and Booker have confirmed that their merger has become effective as of 8am on 5 March 2018, following court approval. Resounding 'yes' vote from both sets of shareholders The completion of the merger follows a resounding vote in favour of the deal last week, with 85% of Tesco shareholders and 83% of Booker shareholders backing the merger. The merger will result in a vertically-integra...

Shareholders of Tesco and Booker have backed their boards and voted in favour of merging the two businesses. Resounding 'yes' vote from both sets of shareholders 85% of Tesco shareholders and 83% of Booker shareholders backed the merger, which is now expected to be completed on March 5th having already received clearnace from the UK Compeition and Markets Authority. The merger will craete a...

Booker has now opened its first implant within a Tesco store so we popped in to check it out.  Located in the Tesco Extra hypermarket at Bar Hill, Cambridge, the Chef Central unit occupies approximately 10,000 sq ft (930 sq m) partitioned off in one of the front corners of the store. Source: IGD Research Effectively a separate trading unit, it has its own entrance, welcome desk and til...

With Valentine’s Day the first major event of 2018, we take a look at how health & beauty retailers are becoming ever more imaginative in their drive to inspire shoppers. Boots: Gift ideas for a range of recipients Boots has further developed its ‘show someone you know them’ campaign, which centres around meaningful gifting. Source: Boots' Instagram Boots uses social to showc...

Ahead of Shrove Tuesday, we round up our favourite initiatives this year. Iceland: Value bundle deal The first pancake day activity we spotted this year was from Iceland. Shoppers who buy a £5 pancake pan can add pancake mix, spray oil, and a choice of toppings to their basket for free. It's conveniently cross merchandised in-store, and available as a bundle deal online. Source: IGD Res...