Tesco
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Tesco

Tesco
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
A shopper at a supermarket in London as the cost of living crisis continues to hit UK households hard. Photo: EPA-EFE
Britain

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

The Telegraph newspaper reported that PM Rishi Sunak’s government is looking at plans to have retailers cap the prices of basic items such as bread and milk. Britain has western Europe’s highest rate of inflation for food.

Thailand

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

Britain

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

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.

People walk past at a Tesco Express in central London. File photo: AFP
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.

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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.

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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

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A Tesco store in Qingdao city, in eastern China’s Shandong province. Photo: EPA
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.

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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.

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Britain

UK girl finds note from ‘Chinese prisoner’

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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.

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Florence Widdicombe, six, found the message in a charity card from the British retailer. Photo: PA via AP
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.

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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.

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.

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.

The scandal raises doubts over the management and financial oversight at Britain’s largest private sector employer, now in the midst of the gravest crisis in its 95-year history. Photo: EPA

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.

China Resources Enterprise

CRE confident of future Tesco profit

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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.

Tesco is the world's third biggest supermarket chain.
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.

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.

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.  

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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.

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Tesco, the world's third-biggest retailer, is still trying to break even on the mainland, despite nine years of running supermarkets in the country. Photo: AP

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

Chinese dealers strip shelves of baby milk worldwide

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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.

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

Foreign supermarkets are losing out to mainland stores that are better located and given support by the government. Photo: Reuters

‘Horse lasagne’ sparks new British food scare

Horse DNA found in burgers at second major Irish plant

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