Tesco news

22 April 2015
Tesco has revealed tough preliminary results for 2014, reporting a £6.38bn year-end loss. Headline results £1.4bn group trading profit, in line with expectations but down 58% on last year, reflecting a collapse in UK profits to £467m (down 78.8%) Statutory loss of £6.4bn recognises £7.0bn of one off charges including a £3.8bn impairment charge against trading stores and a £925m write...
08 April 2015
A new management team for Tesco’s Central Europe operations will help the retailer build greater synergies in the region. Delivering more uniform thinking Tesco is to merge its Polish, Czech, Hungarian and Slovakian management teams in a move that is set to deliver more uniform thinking across the region, as well as put in place a more efficient and slimmed down management team. At the head w...
16 March 2015
Thailand’s leading grocer has announced plans to open another distribution centre in Q3 2015 to support its growing business. Strategic focus on regional distribution to enhance growth and customer service To aid store growth in the medium term, Tesco Lotus has said it will invest THB 2.5bn (USD 76mn) to open a regional distribution hub in Surat Thani, after the first successful centre in Kho...
04 March 2015
Tesco’s CEO, Dave Lewis, has launched a new code of conduct for Tesco staff. Focusing on transparency Key risk areas highlighted by the Code include fully traceable supply chains, competition law, ethical trading and accurate accounting. They all follow Tesco’s principles of following the law, developing policies and blueprints and being guided by the retailer’s values. Dave Lewis commented...
10 February 2015
The Groceries Code Adjudicator, the independent body set up to oversee the relationship between major grocery retailers and suppliers, has announced it will launch an investigation into Tesco on suspicion that it breached the Groceries Supply Code of Practice. The Adjudicator has called for evidence to be submitted by 3 April 2015 and the inquiry is expected to take place over the next 6-9 months...
03 February 2015
Tesco has revealed it is to cut its product range by as much as 30%, according to reports in The Grocer. Focus on better availability Tesco has tasked Boston Consulting Group (BCG) to conduct a range review across 40 categories, with the view of reducing its SKU count by up to a third. Thousands of product lines will be scrutinised by the management company, as Tesco looks to reduce costs. ...
21 January 2015
Tesco has unveiled the Tesco Supplier Network, a new website that aims to bring together Tesco employees, suppliers and producers from around the globe. Supply chain efficiencies The website, which is open to all of Tesco’s suppliers and producers, focuses on supply chain efficiencies, product and packaging waste reduction and sustainability as well as updating members on latest trading fig...
08 January 2015
In its Q3 and Christmas trading update, Tesco has revealed an improvement in its UK performance, attributed to increasing customer satisfaction and improvements in availability. Improving availability Tesco sales for the 19 weeks to 3 January were -2.9%, which is much better than the Q2 result of -5.4%. Sales were lifted by relatively strong performance over the six week Christmas trading ...
06 January 2015
Tesco's supplier ordering director Tom Hebbert shares his views on trends in multichannel retailing at IGD's recent Supply Chain Summit.
17 December 2014
Tesco is changing the way it interacts with suppliers, overhauling the current system of receiving payments from suppliers, according to the daily mail. This is to focus on cutting prices and may lead to reducing its product range Range reduction and focus on price Following the challenges Tesco has faced throughout 2014, Dave Lewis is shifting the retailer’s strategy and will concentrate o...