Tag: Tesco

Sainsbury’s reports strong sales despite challenging environment

Sainsbury’s reports strong sales despite challenging environment

Tesco UK sales hit by weak consumer spending

Tesco UK sales hit by weak consumer spending

Supermarket giant Tesco has today reported a fall in UK like-for-like sales but said overseas sales remained strong. British shoppers continue to rein in their spending due to economic uncertainty and Government spending cuts which led to a fall of 0.1% in sales for the 12 week period to 28 May – worse than the [...]

Tesco full year profit boosted by Asian growth

Tesco full year profit boosted by Asian growth

Supermarket giant Tesco has today announced overall pre-tax profits were £3.5 billion for the year to 26 February – an 11.3% rise on a year ago. Profits were 30% higher in Asia at £570 million with sales up 21% to £11 billion, driven by a strong performance in Thailand and Korea. Today’s results represent the [...]

Tesco announces Chinese joint venture

Tesco announces Chinese joint venture

Retailing giant Tesco has today unveiled a new joint property venture in China, which will see it develop shopping malls, each built around one of the supermarket chain’s hypermarkets. The supermarket giant, which is the UK’s largest, will build hypermarkets in three shopping malls – in Shenyang, Xiamen and Fuzhou. The £170 million agreement will [...]

Tesco blames big freeze for poor Christmas sales

Tesco blames big freeze for poor Christmas sales

Supermarket giant Tesco today announced like-for-like sales, excluding petrol, grew by just 0.6% in the six week period to 8 January compared with a year earlier. The figures were worse than expected for the Christmas period and the company blamed the heavy snowfall which gripped most of the country during the build up to the [...]

Sainsbury’s to create thousands of jobs

Sainsbury’s to create thousands of jobs

Tesco reports rise in Q3 sales

Tesco reports rise in Q3 sales

Supermarket giant Tesco has today reported an increase in sales for the 13-week period to November 27. Like-for-like UK sales excluding fuel grew 1.5% in the three month period, while overseas growth rose by 4.1%. However, growth surged in the US, with a 9.8% rise on a like-for-like basis. The supermarket, which is the UK’s [...]

Waitrose sees strong growth despite tough economic conditions

Waitrose sees strong growth despite tough economic conditions

Luxury supermarket chain, Waitrose, has today said despite the tough economic conditions, it expects annual sales to rise by a double-digit percentage for some years to come, fuelled by its ambitious expansion plan. The chain, which is part of the renowned employee-owned department store John Lewis, is quickly becoming one of the UK’s fastest growing [...]

Sainsbury’s H1 profit up

Sainsbury’s H1 profit up

Tesco H1 profit up 12.5%

Tesco H1 profit up 12.5%

Supermarket giant Tesco has today revealed first half pre-tax profits of £1.6 billion - up 12.5% on the same period a year ago. The retailer, which is the world’s third largest, said the profits were boosted by strong sales in Asia, with profits rising 30%. Sales at the group’s international stores (open at least a [...]

Tesco mortgage offering delayed

Tesco mortgage offering delayed

Tesco may have to delay its entrance into the UK mortgage market because the Financial Services Authority (FSA) is still mulling over its application for regulatory approval. According to reports, the FSA’s more stringent approach to mortgage lenders is likely to mean that the Tesco home loan will not be available this year, as planned. [...]

Study reveals FTSE bosses enjoy 5% pay rise

Study reveals FTSE bosses enjoy 5% pay rise

Directors at FTSE 100 companies continue to see a rise in their salaries despite a fall in their share price. The Total Remuneration Survey 2010, conducted by pay consultancy MM&K and the proxy voting agency Manifest, shows chief execs at the UK’s top 100 listed companies have seen their pay rise 5% since 2008 - [...]

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Like-for-like sales grow 1.1% at Sainsbury’s

Like-for-like sales grow 1.1% at Sainsbury’s

Tesco sales boosted by US operation

Tesco sales boosted by US operation

Supermarket giant Tesco has today reported a 6.9% increase in total group-wide sales, (excluding petrol). Tesco, which is the UK’s largest retailer, said the global economic recovery was “well underway” and said it was seeing proof of a rise in consumer spending. Boosted by new store openings, sales growth for the three months to the [...]

Hail the Tesco “mini-village”

Hail the Tesco “mini-village”

Tesco is expanding into property development with a vision of creating four “mini-villages” in South East England, each with a Tesco supermarket at its heart. Plans have been drawn up for Bromley-By-Bow, Dartford, Woolwich and Streatham. Lambeth Council is already working with the retailer to deliver the “Streatham Hub”, which involves a full-size ice rink [...]

FSA grants licence to Metro Bank

FSA grants licence to Metro Bank

City watchdog, the Financial Services Authority (FSA), has granted a banking licence to Metro Bank - which is set to become Britain’s first new high street lender for more than a century. Metro Bank, which is backed by US billionaire and former Commerce Bank owner Vernon Hill, is planning to open two branches in central [...]

Tesco and Spicerhaart launch online estate agency

Tesco and Spicerhaart launch online estate agency

Tesco has joined forces with Spicerhaart to launch an online estate agency aimed at saving home-sellers money. iSold.com is so far only available in the Bristol area; the new service charges a flat fee of £999 in return for which properties are advertised on portals such as Rightmove. All contact with vendors and purchasers takes [...]

Tesco experiences ‘strongest Christmas for three years’

Tesco experiences ‘strongest Christmas for three years’

Supermarket giant, Tesco, has announced a sharp rise in Christmas sales and follows strong sales from other major retailers, boosting hopes that the economy has finally emerged from recession. Tesco, which is the UK’s largest retailer, said it experienced its best Christmas in the UK for three years with total UK sales in the six [...]

Tesco sees improved consumer confidence

Tesco sees improved consumer confidence

Supermarket giant has today reported that overall sales rose by 8.8% (including petrol) over the last three months. Excluding petrol, sales were up 7.7%. Tesco, which has a 30% share of the UK’s grocery market, said sales are up as a result of its double points Clubcard promotion and heavy discounting. The retail said that [...]