Latest Tesco news
The Groceries Code Adjudicator has admitted she is hamstrung in her efforts to reprimand retailers as the government has not yet finalised her powers to hand out fines.
Tesco is bringing in organisation transformation firm Blue Rubicon and the advertising agency that Sir John Hegarty helped found, Bartle Bogle Hegarty (BBH), to work with the company’s leadership team in an effort to help turn the struggling retailer around.
Waitrose is bucking the trend of store closures and job losses in the grocery sector by opening 14 new outlets in 2015, with more in the pipeline for 2016.
Christmas sales figures are neck-in-neck across the grocery market, according to Kantar’s latest data, which shows the retailers are the closest they have ever been since the market research firm began keeping records 20 years ago.
Despite “modest growth” of 0.6% across the grocery market during the festive period, Kantar Worldpanel says this gives cause to celebrate - representing the biggest boost across the sector since August 2014.
Global credit rating agency Moody’s has further downgraded Tesco long-term credit rating from Baa3 to Ba1, which is considered “junk” grade for investments that are considered ‘high risk’.
When over 200 businesses are moved to fill in an in-depth, 20 question survey online in the week before Christmas you know you have hit a nerve.
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