Tesco has been making headlines recently due to various developments, including its acquisition of Tesco Bank's retail banking operations by Barclays for £600 million. Additionally, Tesco's profits have surged by almost 14% in the first half of the year, driven by a nearly 9% increase in sales. The supermarket giant has also faced legal challenges, with a recent disappointment over a judgment that is said to have no impact on its Clubcard Prices program. Furthermore, Tesco has been designated as an Asset of Community Value by Westminster City Council, safeguarding one of its stores from potential demolition.
Tesco plc, trading as Tesco, is a British multinational groceries and general merchandise retailer headquartered in Welwyn Garden City, Hertfordshire, England. It is the third-largest retailer in the world by gross revenues. Tesco was founded in 1919 by Jack Cohen as a group of market stalls. Over the years, it has grown into a global retail powerhouse, operating in multiple countries and offering a wide range of products and services. Tesco is known for its competitive pricing, extensive product selection, and commitment to customer satisfaction.
-
Rolling coverage of the latest economic and financial news
-
“Its appetite for lowering prices for customers is enabled by its sheer scale and strength.”
-
After years of losses or low profits JLP has picked a chair who has deep experience of retailing at its most brutally competitive
-
The issue meant shops were unable to accept payments.
-
Tesco said they were 'disappointed' with the judgement, but reassured customers that it will 'in no way impact our Clubcard Prices programme.'
-
Marks & Spencer has been named the nation's favourite supermarket for the third consecutive year, according to a survey by Which?
-
Barclays to acquire Tesco Bank's retail banking operations for
£600 million, including credit cards, loans, and savings.
-
UK government plans to introduce AI scanners to verify the age of alcohol buyers in supermarkets and other establishments.
-
Three individuals were electrocuted by a fallen power line in Portland, while a baby miraculously survived.
-
Asda, Tesco, and Iceland have announced price reductions for Aptamil baby formula after Danone agreed to cut the price it charges retailers by 7%.
-
German discounter Aldi reported sales up 8% in the four weeks to Christmas Eve, while Lidl notched up 12% growth.
-
Westminster City Council has designated a Tesco store in Dean Street as an Asset of Community Value, safeguarding it from potential demolition for redevelopment.
-
UK supermarkets are implementing measures to reduce plastic waste in fresh produce packaging, including a ban on plastic packaging for some fruit and vegetables and the introduction of recyclable or compostable packaging for pocket tissues.
-
Tesco's profits have risen by almost 14% for the first half of the year, driven by an almost 9% increase in sales, largely due to easing inflation and successful competition with discounters.
-
Aldi's limited-edition Christmas toy causes a frenzy, while Tesco trials 'no-scan' tills and olive oil thefts rise in Spain.
-
Grocery price inflation in the UK has slowed to the lowest rate in more than a year, with the price of butter down 16p compared with this time last year.
-
The UK government announced plans to eventually outlaw cigarette sales, prompting a response from the tobacco industry and a surge in Imperial Brands' stock.
-
UK retailers, including EDF, Aldi, and Italian industry, are implementing measures such as social tariffs, price reductions, and discount pacts to alleviate the financial burden on consumers.
-
Farming and food leaders have sent an open letter to major UK supermarkets, urging fair treatment of suppliers amid warnings of the industry's struggles.
-
The UK competition watchdog is reviewing claims that Tesco and Sainsbury's are not offering genuine discounts with many of their loyalty card prices.