Tag: TESCO

Tesco boss to leave next year after calling turnaround complete

Tesco boss Dave Lewis will step down next summer after declaring the turnaround of Britain's biggest retailer complete. "Put quite simply he is the...

UK retail king Tesco says CEO to step down in 2020

Britain's biggest retailer Tesco said Wednesday that CEO Dave Lewis will step down next year and will be replaced by Walgreens Boots Alliance executive...

Tesco to cut 4,500 jobs in Metro restructuring

LONDON: British supermarket chain Tesco is cutting about 4,500 jobs from its Metro stores to improve the efficiency of a format that is increasingly used...

Tesco’s UK sales growth slows in latest quarter

LONDON: Tesco, Britain's biggest retailer, said underlying sales growth slowed in its latest quarter, partly reflecting a tough comparative number in the same period last...

UK’s Tesco to sell $4.7bn mortgage book as competition bites

LONDON: Britain's biggest retailer Tesco will stop mortgage lending at its banking business because of tough market conditions, it said on Tuesday, as rival lender...

Tesco says new accounting standard would have increased 2018-19 operating profit

LONDON: Tesco, Britain's biggest retailer, said on Monday a new accounting standard related to the treatment of leases would have increased its operating profit and...

British supermarket giant Tesco posts rising profit

LONDON: British supermarket king Tesco on Wednesday registered a nine-percent increase in annual net profits, helped by cost-cutting and its acquisition of wholesaler Booker. The nation's...

Tesco says new accounting standard will not have economic impact

TescoLONDON: Tesco, Britain's biggest retailer, said on Friday a new accounting standard related to the treatment of leases, will change the way assets and liabilities...

UK union seeks urgent talks with Tesco over job cuts report

LONDON: British trade union Unite said on Monday it was seeking urgent talks with the management of Tesco after a Sunday newspaper report that the...

Former Tesco director Carl Rogberg cleared of fraud over 2014 scandal

LONDON: A former senior director of Tesco was formally acquitted on Wednesday of fraud and false accounting at Britain's biggest retailer in 2014. Carl Rogberg, a...