Tesco news and archive

Tesco clothing sales improve by 3.8 percent

Tesco Plc has reported like-for-like sales increase of 1.9 percent in the UK & ROI business including Booker in the third quarter and 2.6 percent in the six-week Christmas period. In the core Tesco UK business, the company added, third quarter like-for-like sales increased by 0.7 percent, representing twelfth consecutive quarter of growth. The...

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Tesco clothing like-for-like sales improve 2.4 percent

Group sales at Tesco Plc, for the second quarter, grew by 12.5 percent at constant exchange rates to 28.3 billion pounds (36.8 billion dollars) with like-for-like growth of 2.2 percent, while at actual exchange rates, sales grew by 12.8 percent including a 0.3 percent foreign exchange translation benefit due to the depreciation of sterling. The...

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Tesco and Carrefour announce long-term strategic alliance

Tesco Group Plc and Carrefour have jointly announced that both plan to enter into a long-term, strategic alliance covering the strategic relationship with global suppliers, the joint purchasing of own brand products and goods not for resale. The companies said in a joint-statement that it will be governed by a three-year operational framework....

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Tesco clothing like-for-like sales grow 1.7 percent in Q1

Tesco Plc like-for-like sales grew by 1.8 percent for the 13 weeks to May 26, 2018, representing a tenth consecutive quarter of positive growth. Total sales at constant exchange rates were up 1.8 percent and 2.3 percent at actual exchange rates, including a 0.5 percent positive foreign exchange translation effect. Clothing like-for-like sales...

Management

Tesco to shut down Tesco Direct in a bid to refocus its non-food business

London - Leading UK retailer Tesco plc is set to shut down Tesco Direct, its non-food website, following a detailed review. Tesco Direct is set to cease trading on July 9, putting 500 employees at risk of being made redundant. The impending closure comes as Tesco concludes that despite its best efforts to secure the platform, there was no way to...

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Tesco preliminary FY17 revenues up 2.3 percent

Tesco Plc sales increased 2.3 percent to 51 billion pounds (72.4 billion dollars); ninth consecutive quarter of like-for-like sales growth in Q4 with UK like-for-like sales up 2.2 percent. Group operating profit before exceptional items increased 28.4 percent to 1,644 million pounds (2,355 million dollars). The company said, group operating...

Management

Tesco H1 like-for-like sales grow 0.8 percent, declares dividend

In the first half year of 2017/18, Tesco Group sales grew by 0.7 percent at constant exchange rates to 25.2 billion pounds (33.4 billion dollars) with like-for-like growth of 0.8 percent. At actual exchange rates, the company said, sales grew by 3.3 percent including a 2.6 percent foreign exchange translation benefit due to the ongoing weakness...

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Tesco posts like-for-like sales growth of 1 percent in Q1

Tesco Group said like-for-like sales grew by 1 percent for the 13 weeks to May 27, 2017, representing a sixth consecutive quarter of positive growth. Total sales at constant exchange rates were up around 0.8 percent, as the company said, year-on-year impact of selling Dobbies, Giraffe and Harris & Hoole more than offset store openings across the...

Management

Tesco posts first positive sales growth in seven years

Tesco Group sales grew by 1.1 percent to 49.9 billion pounds (57 billion dollars) at constant exchange rates with positive like-for-like growth in both the UK & ROI and international market for the fiscal year 2016/17. The company said, at actual exchange rates, sales grew by 4.3 percent including a 3.2 percent foreign exchange translation...

Management

Tesco's clothing sales rise 4.3 percent during holiday season

Tesco Group like-for-like sales grew by 1.1 percent for the 19 weeks to January 7, 2017. The company saw strong performance in clothing and toys, with sales up 4.3 percent and 8.5 percent respectively during the holiday season. “We are very encouraged by the sustained strong progress that we are making across the Group,” said *Dave Lewis, Chief...

Management

Tesco posts positive like-for-like sales growth across regions

In the first half of this fiscal, Tesco Group sales grew by 1.3 percent at constant exchange rates with positive like-for-like sales growth in all regions. At actual exchange rates, sales grew by 3.3 percent including a 2 percent foreign exchange translation effect principally due to the strength of European currencies relative to Sterling. The...

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Tesco posts Q1 like-for-like sales growth of 0.9 percent

For the first quarter of fiscal 2016, Tesco, while maintaining a positive like-for-like sales growth momentum, posted a 0.9 percent rise in Group like-for-like sales. UK like-for-like sales were up 0.3 percent and international like-for-like sales increased 3 percent. Commenting on the first quarter trading, Dave Lewis – Chief Executive said, “...