Tesco news

Over the past two weeks, the bakery category has been highlighted as a growing focus for retailers, with developments from Asda and Home Bargains. At Asda, this saw the addition of new product developments and the further rollout of more in-store bakeries at Home Bargains. Home Bargains to expand coverage for in-store bakeries Home Bargains has an estate of approximately 570 stores, 64 of ...

The Competition and Markets Authority (CMA) has published its initial update on its ongoing work to tackle cost of living pressures in groceries with the publication of two reports: an assessment of retail competition in the groceries sector and a review of unit pricing practices across major retailers. On the first point, it has concluded that the level of competition is healthy and that the ...

Tesco is reported to have pressed suppliers to do more to pass on cost savings in a meeting last week. As reported by The Sunday Times, Tesco is striving to pass on price cuts to shoppers faster than its rivals. In its presentation to suppliers, Tesco reportedly highlighted wholesale electricity costs were down 50%, plastic packaging prices are down 22%, and freight costs are down 84% compared...

A further round of price cuts has taken place at Tesco. The latest reductions cover 500 essential items Tesco customers purchase regularly on a weekly basis, as well as summer favourites and fruit and vegetables. The average price cut will be 13% with some items such as pasta and milk seeing their second set of price cuts this year. Tesco Chief Product Officer, Ashwin Prasad, said: “W...

Tesco and Sainsbury’s have announced further price cuts will take effect in the coming days. Tesco reducing the price of 500 essential items Tesco will make further price reductions for certain items in its private label pasta, tinned tuna, milk, grapes, and cheese ranges. Tesco said it had worked with suppliers to pass on cost reductions where possible. The average price reduction will be ...

Following the recent launch of Price Cuts in the Irish market, Tesco has replicated the move in the UK. Initially debuting last week in dairy (cream and cottage cheese), the Price Cuts mechanic has been rolled into branded and private label bakery, cooking oil and medicines. The discounts represent Tesco passing on falling prices from suppliers and use the same point-of-sale (POS) as in the Iri...

Tesco released its Q1 2023/24 results today revealing growth across all its markets. For the 13 weeks ending 27 th May 2023, Total Group Retail sales stand at £14.8 bn a like-for-like increase of +8.2%. Broken down by market, UK sales are £10.8 bn (LFL +9.0%), Republic of Ireland £714m (LFL +7.3%), Booker £2.3 bn (LFL +8.4%), and Central Europe £1.0 bn (LFL +1.1%). Large stores and online ...

Tesco Ireland has kicked off a new price-cutting campaign that focuses on the reduction of 700 everyday grocery products. The cuts are across Tesco branded and own label lines with an average decrease of 10% Food and grocery inflation still sits at record highs so the move brings with it some optimism that the peak of inflation has passed. Shoppers will also welcome the news. Joe Manning, Te...

An audience of 1,200 gathered at London’s Tobacco Dock on 17 May to hear from Tesco Group chief executive, Ken Murphy, chief customer officer, Alessandra Bellini, and chief product officer, Ashwin Prasad. The leadership team shared their reflections on Tesco’s recent performance, their views on the current state of the market, and how and where success will be found in the coming years. The...

Despite only 31% of shoppers having set plans to celebrate the Coronation this weekend, food-to-go and eating out operators haven’t held back on their Coronation specials. Source: IGD ShopperVista. Coronation: are shoppers getting set to celebrate? While we have seen food-to-go customers start to cut back on missions, spend and frequency , the Coronation specials and limited...