Tesco posts 10.5 per cent profit drop October 3, 2012 Tesco posted a 10.5 per cent drop in first-half trading profit this morning. Over the six months to 25 August, profit came in at to £1.6bn. A £1bn capital investment programme, to stem a decline in market share to chains such as Asda, Sainsbury’s and Morrisons, was largely responsible for the firm’s first fall in [...]
Tesco posts 10.5 per cent profit drop October 3, 2012 Tesco posted a 10.5 per cent drop in first-half trading profit this morning. Over the six months to 25 August, profit came in at to £1.6bn. A £1bn capital investment programme, to stem a decline in market share to chains such as Asda, Sainsbury’s and Morrisons, was largely responsible for the firm’s first fall in [...]
Tesco set to post profit fall but recovery in UK trading September 30, 2012 TESCO is set to post its first profit fall in almost 20 years this week, despite seeing a recovery in recent trading, as the supermarket fights to turn itself around after a shock profit warning in January. Analysts at Jefferies expect an improvement in second quarter trading, with like-for-like sales down 0.2 per cent compared [...]
Tesco’s Clarke insists US chain is fighting back September 19, 2012 TESCO’S loss-making Fresh & Easy chain in the United States is “fighting nicely” in a tough market, the chief executive of the retailer said yesterday, underlining his belief that the chain can have a profitable future. Tesco boss Philip Clarke has this year rejected investor calls to withdraw from the US, though he told shareholders [...]
Tesco displaying recovery signs after its shock profit warning September 25, 2012 TESCO, the world’s third biggest retailer, said a recovery plan to recapture home market share was making an impact after a shock profit warning, backing up industry data showing evidence of success in its fight-back against rivals. Once one of the most consistent British companies in terms of earnings growth, Tesco stunned investors in January [...]
Emergency service July 18, 2013 Robin Swithinbank reports on a new version of a satellite-linked watch that could save your life IN 2003 a pair of British explorers, Steve Brooks and Quentin Smith, were forced to ditch in the Antarctic after a failed attempt to become the first pilots to fly a helicopter to the North and South Poles. After [...]
Tesco faces illegal worker fines August 20, 2012 SUPERMARKET giant Tesco may be hit with fines after the UK Border Agency (UKBA) found it was employing foreign students for more hours than allowed by their visas. Twenty students were arrested in a 3am raid on a Croydon warehouse where employees work on fulfilling internet orders. Tesco faces fines of up to £10,000 per [...]
After reporting its first fall in profits since 1994, is Tesco now facing serious decline? October 3, 2012 YES Neil Saunders Those looking for a quick turnaround from Tesco will be disappointed by the latest results, which underline deep-rooted problems. UK like-for-like sales growth has improved since the last update. However, this has been driven by more discounting; a short-term solution that treats the symptoms of Tesco’s illness, but does very little in [...]
Cameron blows UK’s trade horn on India visit February 17, 2013 LONDON’S transport expertise and Tesco’s expansion plans will be high on the agenda during Prime Minister David Cameron’s trade mission to India this week. Cameron will arrive in Mumbai today with a delegation of ministers and business bosses including Standard Chartered’s Peter Sands to speak with trade partners in India. Transport for London has sent [...]
Morrisons is among the winners of the ongoing saga February 26, 2013 BRAND INDEX IKEA now joins the long list of brands to get hit by the horsemeat scandal. We won’t have numbers until later today but judging from what happened to Tesco, the Swedish group may well have a problem. The first time I wrote on this subject back in January, I said it might turn [...]