Latest Tesco news
UK sales at Tesco continued to fall in the first quarter of its new financial year – though the decline was less dramatic than during the horror show of 2014/15.
Tesco has in it’s recently released annual report stated that “regrettably, we have conclude that there have been a number of instances of probable breaches of the Code which fall short of the high standards we expect to uphold in our dealings with our suppliers.”
Morrison returned to growth for the first time since December 2013, the latest grocery share figures from Kantar Worldpanel have shown, while Lidl rose its highest recorded market share.
Tesco has appointed Diageo’s former lawyer David Berry as its first UK legal director, according to legal publication, The Lawyer.
Consumers are the real winners this year, with almost 500 medals from the 2015 International Wine Challenge being awarded to supermarkets’ own-brand and exclusive wines.
Kantar Worldpanel released it most recent UK retail figures today showing that “a massive £532m has been taken out of the supermarket revenue pool in just three months” according to Fraser McKevitt, the head of retail and consumer insights at Kantar.
Tesco has reported the worst annual financial results in the retailer’s 96 year history, showing a loss of £6.376bn and underlying profit before tax fall just over 70% for the year.
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