TOPIC

/ company

Tesco

Founded in 1919 as a market stall in the East End of London, Tesco is now a major UK-based retailer, employing more than 500,000 people with operations in 14 countries.

Chairman / President

Gerry Murphy

CEO / Managing Director

Ken Murphy

CFO / Finance Director

Imran Nawaz

Industry

Retail

Website

tescoplc.com

Headquarters address

Tesco PLC,Tesco House,Shire Park,Kestrel Way,Welwyn Garden City,Hertfordshire, AL7 1GA,United Kingdom

Stock Code

LSE:TSCO

Year founded

1919

last updated:

30 September, 2024

Shein and Temu sell clothes, shoes, gadgets and accessories at rock-bottom prices. Photo: Reuters

E-commerce

UK lawmakers summon Shein and Temu for questioning over labour practices

Both online retailers have faced allegations of poor working practices at product factories in China and of forced labour in supply chains.

3 Jan 2025 - 10:06AM

Britain

UK government to ask supermarkets to cap prices of basic food items

29 May 2023 - 1:02AM

Thailand

Tesco accused of making low-wage workers do 99-hour weeks at Thai factory

20 Dec 2022 - 8:24PM

Britain

Shoplifting soars in UK as highest inflation for decades hits price of basics

Shops in Britain have shifted to protecting unlikely items like butter, cheese and washing detergent as grocery price inflation hit a record 14.7 per cent. Shoplifting incidents are up 18 per cent.

21 Nov 2022 - 2:09PM

A shopping trolley filled with food is seen in a supermarket in Huddersfield, Britain. Photo: EPA-EFE

Malaysia

Tesco workers in Malaysia, Thailand abused, UK grocer says in report

Hundreds of workers at Tesco’s stores and distribution centres in Malaysia and Thailand say they had their passports taken, suffered illegal pay cuts or worked gruelling hours, report finds.

16 May 2020 - 8:20PM

Mergers & Acquisitions

Foreign grocers leaving Asia as e-commerce, local competition intensifies

Tesco latest foreign grocer to pull back from Asia as local rivals and e-commerce giants, such as Alibaba and JD.com, eat into sales.

12 Mar 2020 - 10:42PMvideocam

Coronavirus pandemic

CP Group secures funding for US$10.6 billion purchase of Tesco stores

CP Group secured funding to acquire Tesco’s businesses in Thailand and Malaysia, showcasing the resilience of bank liquidity in the Asian banking market even as new coronavirus batters Thai economy.

11 Mar 2020 - 11:15AM

Retailing

British retailer Tesco exits China with US$357 million stake sale

Having struggled to crack the Chinese market, Tesco established the Gain Land venture with China Resources Holdings in 2014

25 Feb 2020 - 9:10PMvideocam

Human rights in China

Tesco scandal prison offers re-education, and pizza at Christmas, boss says

Inmates choose to take part and are paid for some of their work, Qingpu Prison director tells state media after a child in Britain reportedly found a message in a greeting card saying forced labour was used.

25 Dec 2019 - 3:08PMvideocam

Human rights in China

China denies forced labour claims after cry for help found in Christmas card

Spokesman for foreign ministry in Beijing insists story was ‘made up’ by Peter Humphrey, a Briton who spent 23 months in Chinese prisons.

24 Dec 2019 - 4:18AMvideocam

Peter Humphrey is a former inmate of Qingpu prison in China. Photo: AP

Britain

UK girl finds note from ‘Chinese prisoner’

23 Dec 2019 - 4:54PM

02:06

Human rights in China

Qingpu prison: the facility at the heart of Tesco’s forced labour scandal

The authorities say detainees are offered therapy and ‘cultural exchanges’ but a newspaper said a message in a Christmas card, apparently written by an inmate, said they were forced to work against their will.

24 Dec 2019 - 5:12AMvideocam

Human rights in China

Tesco suspends Chinese cards supplier over prison labour claims

British supermarket is investigating after newspaper report that six-year-old girl found message in card saying it was packed by Shanghai prisoners.

23 Dec 2019 - 5:32PMvideocam

China economy

Eye on Asia | What is different about China’s latest foreign capital flight?

Trade war, rising costs and economic reforms deemed too little, too late are behind China’s latest foreign capital flights. What is different this time is that the withdrawals are part of a migration of the industrial chain out of China.

29 Jul 2019 - 6:36AM

The scale of foreign investment in high-end manufacturing is shrinking fast, according to Beijing-based think tank Anbound, and there is almost no new investment in some Shanghai industrial parks. Photo: Reuters

Brexit

Top food store chiefs warn no-deal Brexit could menace UK’s food security

On eve of vote, leading retailers have written to the government announcing that no-deal Brexit could mean higher prices and empty shelves in the short-term.

29 Jan 2019 - 4:41AM

Shoppers walk by a vegetable stand at the Lewisham market in London on Monday. Photo: EPA-EFE

Tesco fails to see US$410m hole in first half profits

"Things are always unnoticed, until they're noticed," Tesco chairman Richard Broadbent said when asked how Britain's biggest retailer had failed to spot a £250 million (HK$3.14 billion) sized hole in its first-half profit.

4 Oct 2014 - 4:39AM

Tesco profit declines for second year as UK sales worsen

Tesco, Britain's largest retailer, reported a second consecutive decline in annual earnings after a slump in domestic sales and said it wrote down the value of assets in Europe amid deteriorating profitability.

17 Apr 2014 - 1:09AM

China Resources Enterprise

CRE confident of future Tesco profit

21 Mar 2014 - 12:43AM

CRE's beer and beverage divisions performed strongly. Photo: Nora Tam

Tesco to use face-scanning technology at tills, show ads

Britain's biggest retailer, Tesco, is to install screens at its petrol stations that scan customers' faces so that advertising can be tailored to their age and gender.

5 Nov 2013 - 5:45AM

China Resources Enterprise

Tesco buys stake in retail venture for HK$4.33b

Top British retailer Tesco will pay HK$4.33 billion to gain 20 per cent of a venture with China Resources Enterprise that will run supermarkets and other stores on the mainland and in Hong Kong.

3 Oct 2013 - 2:42AM

ParknShop

China Resources, Tesco mull joint bid for ParknShop

Tesco, Britain's largest retailer, may join forces with state-backed China Resources Enterprise to bid for ParknShop. Frank Lai Ni-hium, the chief financial officer of China Resources, said the two companies were "in discussion" that might lead to a possible joint bid for the supermarket chain.

22 Aug 2013 - 4:44AM

China Resources Enterprise chief financial officer Frank Lai says its venture with Tesco would help improve profit margins. Photo: Nora Tam

Tesco denies it prefers hiring migrants to Britons

In remarks that could drag British retailers into a politically charged immigration debate ahead of a 2015 election, senior Labour lawmaker Chris Bryant was due to say in a speech yesterday that Tesco and Next deliberately excluded British people from jobs.

13 Aug 2013 - 2:38AMvideocam

A lorry with job advertisements on its side leaves a Tesco distribution centre in Dagenham, east London. Photo: Reuters

Tesco venture takes fresh crack at China market

Tesco, Britain's largest grocery and general merchandise chain, has signed a memorandum of understanding to establish a joint venture with China Resources Enterprise in a bid to revive its fortunes in the world's most populous country.

10 Aug 2013 - 4:40AMvideocam

Tesco bosses told: 'end profit fall or no bonus'

25 May 2013 - 2:53AM

Chinese dealers strip shelves of baby milk worldwide

12 Apr 2013 - 2:36PMvideocam

A sign limiting the purchase of baby milk formula powder hangs on the shelf in a supermarket in London, on Wednesday. Photo: AP

Britain

Chinese demand for baby milk causes ‘ration’ in Britain

British retailers are limiting purchases of baby milk powder to prevent customers from bulk-buying and exporting it to China for profit. Leading supermarket chains Tesco and Sainsbury’s say they have started advising customers to buy no more than two tins of milk powder in each transaction. The British Retail Consortium said on Wednesday other retailers are imposing similar limits to ensure there is enough stock for everyone wanting baby milk.

11 Apr 2013 - 12:13AM

British supermarket chain Tesco are limiting customers to two tins of milk powder per transaction due to demand from Chinese buyers. Photo: AFP

Walmart

Foreign supermarkets find competition tough in China

23 Feb 2013 - 4:51AM

‘Horse lasagne’ sparks new British food scare

8 Feb 2013 - 10:37AM

Help preserve 120 years of quality journalism.

SUPPORT NOW