Tesco raises store workers pay by 7 per cent February 20, 2023 Tesco, Britain’s biggest retailer, will raise hourly pay for about 220,000 store workers by 7 per cent from April – another increase that will likely catch the attention of the Bank of England, which is worried about inflationary pressure in the economy. The supermarket group, one of the country’s largest private sector employers, said a [...]
Tesco ‘considering sale’ of Tesco Bank, according to reports February 20, 2023 Tesco is considering selling Tesco Bank, according to Sky News which has reported that the supermarket giant has started a review process for its banking arm. The review is at a very early stage, according to insiders, and may not lead to a formal sale process. A partial sale or joint venture may also be [...]
Tesco versus Lidl: Two of UK’s largest supermarkets go to court over use of yellow logo February 7, 2023 Supermarkets Tesco and Lidl have begun a High Court fight over the use of a yellow circle logo. German discount chain Lidl says a trademark, and copyright, has been infringed, while Tesco has made a counterclaim. Lidl uses a yellow circle in its main logo, and Tesco uses one to highlight offers available to members [...]
FTSE 100 close: Barclays, HSBC and Easyjet shine on otherwise poor day in London January 25, 2023 London’s FTSE 100 today gave up morning gains to finish lower before stronger-than-expected retail earnings provided a balm against recession fears. The capital’s premier index fell 0.22 per cent to 7,740.34 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, slid 0.38 per cent to [...]
Tesco launches clubcard data app – and reveals the nation’s favourite meal deal January 17, 2023 Retail giant Tesco has confirmed the nation’s most popular meal deal as it expands its Clubcard service with its own year-in-review tool, following a wealth of outlets and online platforms in presenting users with their personal data for viral appeal. Named Clubcard Unpacked, it will show users a raft of data gathered by the retailer [...]
Ocado: Annual revenue dives to £2.2bn but up on pre-pandemic level as retailer sees strong festive trade January 17, 2023 Online grocery retailer Ocado saw its revenue dive to £2.2bn in 2022, down 3.8 per cent from the previous year, but up by 40 per cent on pre-pandemic levels in 2019. The online grocery delivery giant managed to claw back some growth with postive Christmas and New Year trading updates. It’s rivals Tesco and Sainsbury’s [...]
British retailers cheer Christmas sales, but City analysts warn of coming storm January 15, 2023 Britain’s largest retailers kicked off 2023 strongly last week, posting better than expected Christmas sales, signalling the consumer is holding up a bit better than feared. Tesco’s like for like sales were 7.9 per cent higher, while Marks and Spencer pocketed a 7.2 per cent rise. Sainsbury’s also posted record Christmas sales. Those bumper numbers, [...]
FTSE 100 close: ASOS and Centrica pop to crystalise strong start to 2023 January 12, 2023 London’s FTSE 100 built on gains yesterday that propelled to its highest level since 2018 after a series of British bellwether retailers posted a decent set of results this morning and the owner of British Gas skyrocketed. The capital’s premier index closed up 0.89 per cent at 7,794.04 points, while the domestically-focused, mid-cap FTSE 250 [...]
Tesco: Bumper Christmas sales will put shares in the spotlight this morning January 12, 2023 TESCO enjoyed a bumper Christmas period, it told markets this morning, with like-for-like sales up nearly 8 per cent despite bruising economic headwinds. The supermarket told markets this morning it had seen customers switching to Tesco across December. The boost meant revenues hit a cool £19.7bn in the UK and Ireland for the quarter to [...]
Cost of living fears don’t stop Brits spending record £12bn in supermarkets in run-up to Christmas January 4, 2023 BRITS brushed off cost of living and recession fears to spend a record £12bn in UK supermarkets in the run-up to Christmas.