Tesco plc news

07 May 2019
Healthier products set to become a significant category for the retailer. Growing demand for herbal and organic ranges Since 2016, Star Bazaar, the supermarket banner operated by Trent Hypermarket, has seen steady growth in its herbal, organic and natural products. Though initial growth was driven by large corporates such as Hindustan Unilever and Patanjali Ayurved Ltd., more and more playe...
10 April 2019
Tesco has announced its full year results with LFL sales in Asia showing improvement in Q4. Significant improvement in the second half Although full year LFL sales in Asia fell by 6.2%, it declined by 3% in Q4, showing signs of recovery. Sales in the first half was impacted by the retailer’s decision to exit unprofitable bulk selling. Thai government’s issuance of welfare card, which could ...
22 January 2019
Tesco Lotus has launched 45 Thai food products under the Tesco brand. Tesco Authentic Thai range The food products include both savoury and sweet items with top quality ingredients from Thailand. These include sweet tamarind from Phetchabun, purple sweet potatoes from Ubon Ratchathani, durian from Chanthaburi, mangoes from Prachuap Khiri Khan and coconut sugar from Samut Songkhram. The ingr...
11 January 2019
Although Tesco delivered encouraging sales for Q3 in the UK, Asian results continue to be challenged. LFL sales fell by 8% in Asia Tesco reports stronger underlying performance in Asia, but sales in Thailand continue to be impacted by changes in pricing, promotions and couponing. Tesco management is restructuring its Thai business to stop bulk-selling. Government-issued welfare cards scheme...
03 October 2018
Tesco has released its interim results for 2018/19, with sales in Asia reaching £2,365m, down 5.0% at constant exchange rates. Thailand dragging on overall Asia performance As predicted by the Tesco management, performance in Asia improved throughout the period as the business annualised its decision to stop bulk-selling. Asia LFL sales declined 9.0% in Q1 and although remaining negative, i...
10 September 2018
Tesco Lotus has opened its 2,000th store in Thailand on Bangkruay-Sainoi Road.  Expansion plan on track The retailer committed to adding about 55,000 sq m of retail space in 2018. It has opened 45 stores so far: six hypermarkets, one department store, one talad store and 37 Tesco Express stores. Sompong Rungnirattisai, CEO of Tesco Lotus, is optimistic about the Thai economy and belie...
22 May 2018
Tony Hoggett, CEO of Tesco Asia has been appointed to a new chief operations role, while Alison Horner, chief people officer will replace him to head up the retailer's Asian businesses, according to press reports.  The changes will take effect from June 1st. "Leveraging operational strategy across the group" In his new role Hoggett will work alongside chief product officer Jason Tarry and c...
25 April 2018
Tesco Lotus plans to keep expanding new stores and spaces, adding around 55,740 sq m in retail space, according to a speech by Sompong Rungnirattisai, the newly appointed chief executive. Expansion in secondary districts This year the retailer plans to add around 55,740 sq m in retail space, an increase of 40% from around 40,000 sq m it added last year. The new spaces will be from opening n...
19 April 2018
The retailer sees greater opportunity on the Star Market format. Focus on supermarket format Trent Hypermarket has shut all of its Star Daily stores. A total of 20 Star Daily stores are affected by this announcement. In a statement issued by the company, a spokesperson for the company said, “ the Star Market format is seen to afford the most sustainable platform for expansion and consequent...
11 January 2018
Tesco has reported encouraging Q3 and Christmas trading figures, particularly in the UK, as customers responded to a much improved fresh food offer. Christmas trading was however impacted by challenges in the tobacco category caused by the collapse of wholesaler P&H. Headline LFL results   Q3: 13 weeks to 25 Nov Christmas: 6 weeks to 6 Jan ...