Carrefour SA and Tesco PLC, two of Europe’s largest retailers, yesterday said they had finalized a purchasing alliance to increase their leverage with suppliers in the fiercely competitive supermarket sector. The French and British supermarket giants said in a joint statement that they expect the alliance to become operational in October. Tesco chief executive officer Dave Lewis said in June when the plan was announced that the alliance would enable the supermarket chains to “serve our customers even better, further improving choice, quality and value.”. In June, France’s Auchan Retail International SA, Casino Guichard-Perrachon SA and Schiever Group said they would combine forces with Germany’s Metro AG in purchasing. While Tesco remains profitable and has seen rising sales, Carrefour posted a loss of 861 million euros (US$995 million) in the first half of the year and is undertaking a cost-cutting and restructuring program to reduce its reliance on giant stores.
Tesco PLC Add to portfolio
LON100:TSCO, Aug 17, 03:51 UTC
Latest LON100:TSCO News
Filter your feed
Monday, August 13
Date: 13 Aug 18 Time: 22:27
Monday, August 06
Date: 06 Aug 18 Time: 16:03
Carrefour, Tesco finalize alliance on purchasing - Taipei Times
Date: 06 Aug 18 Time: 07:55
Carrefour, Tesco seal purchasing deal
PARIS: Carrefour and Tesco, two of Europe's largest retailers, said Monday (Aug 6) they had finalised a purchasing alliance to increase their leverage with suppliers in the fiercely competitive supermarket sector. Tesco chief executive Dave Lewis said in June when the plan was announced that the alliance would enable the supermarket chains to "serve our customers even better, further improving choice, quality and value". Britain's second and third-biggest supermarket chains, Sainsbury's and Walmart-owned Asda, have agreed to merge. While Tesco remains profitable and has seen rising sales, Carrefour posted a loss of 861 million euros (US$995 million) in the first half of the year and is undertaking a cost cutting and restructuring programme to reduce its reliance on giant stores. The purchasing tie-up with Tesco should help Carrefour in its bid to raise the percentage of own-brand goods on its shelves from around a quarter currently to one-third. For Tesco, own-brand goods already account for half of the goods on its shelves.
Story Sourceschannelnewsasia.com channelnewsasia.com brecorder.com freemalaysiatoday.com capitalfm.co.ke
Date: 06 Aug 18 Time: 06:15
Carrefour, Tesco alliance to become operational in October
PARIS, Aug 6 (Reuters) - Supermarket retailers Carrefour (Swiss: CA.SW - news) and Tesco (Frankfurt: 852647 - news) said on Monday that they expected their previously-announced purchasing alliance to become operational in October. The companies first announced the tie-up in July, with French company Carrefour (LSE: 0NPH.L - news) joining up with UK peer Tesco to form a global purchasing alliance to demand better terms from major suppliers, in the latest attempt by the industry to drive down costs. With (Other OTC: WWTH - news) combined annual sales of $170 billion, the partnership is designed to secure a better deal from the likes of Nestle (Swiss: NESN.VX - news) , Procter & Gamble (Swiss: PG-USD.SW - news) , Unilever (NYSE: UL - news) , Danone (LSE: 0KFX.L - news) and others to help the French and British groups to compete hard on price. (Reporting by Sudip Kar-Gupta; editing by Emelia Sithole-Matarise).
Story Sourcesuk.finance.yahoo.com finance.yahoo.com in.reuters.com uk.reuters.com reuters.com euronews.com irishtimes.com proactiveinvestors.co.uk businesstimes.com.sg freemalaysiatoday.com
Wednesday, August 01
Date: 01 Aug 18 Time: 10:09
We Deedit: Collaboration between University of Edinburgh and Tesco...
We Deedit: Collaboration between University of Edinburgh and Tesco Bank aims to tackle social issues2 hours ago | 755 views | 0Source: Tesco Bank. It is part of Data Pipe Dreams: Glimpse of a Near Future, the annual interactive pavilion of the Centre for Design Informatics at the University of Edinburgh, which showcases prototypes that explore designing with data. ‘Deedit’ has been developed as part of Project Mercury, a unique collaboration between the Centre of Design Informatics and Tesco Bank designed to explore Fintech, develop talent and foster innovation and creative thinking. Although the pilot has been launched in Edinburgh, the developers are encouraging people from across Scotland to use the platform to do good deeds. Through a series of workshops, lectures and internships, University students and academics have worked in partnership with Tesco Bank’s digital and design-practice department to explore the possibilities of emerging digital technologies, such as blockchain.
Monday, July 30
Date: 30 Jul 18 Time: 17:18
Former Tesco finance director will not face fraud trial with others
LONDON (Reuters) - Former Tesco (TSCO.L) finance director Carl Rogberg will not stand trial with two of his former colleagues in September, Britain's Serious Fraud Office said on Monday. "Today His Honour Judge Sir John Royce severed Carl Rogberg from the upcoming trial indictment," the SFO said in a statement to media, which are barred under English law from reporting the reason why Rogberg will not stand trial in September. Two of Rogberg's one-time colleagues at Tesco, UK managing director Christopher Bush and food commercial director John Scouler, neither of whom still work for the supermarket, face a retrial starting on Sept. 3 after the first trial was called off shortly before the jury was due to consider its verdict. The SFO prosecution of the three men was launched after Tesco, Britain's largest retailer, told the stock market in September 2014 that its profit forecast had been overstated by 250 million pounds ($328 million).
Thursday, July 26
Date: 26 Jul 18 Time: 11:24
Facebook's still a monster even after seeing more than three times the value of Tesco going up in smoke
Facebook's still a monster even after seeing more than three times the value of Tesco going up in smoke. There are only four British companies worth more than the $120bn (£90bn) wiped from the Value of Facebook in a heartbeat last night: Shell, BP, HSBC and British American Tobacco. There were times during after hours trading when you could have taken the latter off that list and added its name to those of Barclays, Tesco, Guinness owner Diageo and Vodafone. Then Facebook’s executives were trotted out to deliver the latest set of numbers - for the three months to June 30 - and suddenly the party was over and everyone was dealing with the sort of hangover you get from chasing Diageo’s most famous tipple with spirits on a Friday night before wrapping up with a bottle or three of Sambuca.
Monday, July 23
Date: 23 Jul 18 Time: 11:49
Tesco PLC (LON100:TSCO) article volume is higher than usual
Date: 23 Jul 18 Time: 10:59
Tesco plans for mystery new-format stores
Tesco is planning to open a number of stores in a mystery new format. The store chain, the country's biggest food retailer, would not comment, but there are strong hints the new-look stores will be aimed at challenging discounters, such as Aldi and Lidl. Tesco's move comes as retailers face an increasingly competitive environment. Since their entry into the UK, discount chains Aldi and Lidl have steadily increased their share of the market and now account for 14% of grocery sales. Earlier this month, Tesco announced it was planning a buying partnership with France's Carrefour - a "strategic alliance" whereby the two will try to use their joint buying power to cut costs and offer lower prices to customers.
Date: 23 Jul 18 Time: 09:42
Tesco Readies New Discount Stores to Take on Lidl and Aldi
Tesco Plc is readying a new chain of discount stores in the company’s most direct offensive on Aldi and Lidl to date. The U.K.’s largest retailer is recruiting for staff to work in the new store format at sites in Immingham in northeast England and in Chatteris, about 80 miles north of London, according to postings on the LinkedIn social network. “Tesco will be competing with Aldi and Lidl in what they do best,” Berenberg analyst Dusan Milosavljevic said by email. Tesco’s plans are another symptom of the pressures exerted by Aldi and Lidl’s rapid growth since the 2008 financial crisis, which sparked a price war that slashed profit margins across the industry.
Key Stats & Ratios
|Quaterly Earnings Growth||1,015.70%|
|Quaterly Revenue Growth||1.90%|
|Revenue per share||6.96|