Tag archive for ‘Tesco’
News Brief On Thursday, November 26th, 2015

Tesco agrees $12 million payout to US shareholders over accounting scandal

Tesco, the UK’s largest supermarket group, will pay $12 million (£8 million) to settle legal action by US shareholders which claimed that accounting irregularities inflated the supermarket’s More...

News Brief On Thursday, October 22nd, 2015

Fresh & Easy begins closing down stores

  Nearly eight years after its debut, the British-conceived supermarket chain Fresh & Easy is ending its American grocery experiment by closing or selling its remaining 100 stores. The struggling More...

Ilan Shavit On Wednesday, August 12th, 2015

Bids to be slashed for Tesco’s data company Dunnhumby

  Tesco PLC’s Dunnhumby data analysis has had to drastically scale back ambitions for the sale with a price of up to £2 billion ($3.11 billion). as bidders were discouraged by lower than expected More...

Eli Horn On Wednesday, April 22nd, 2015

Tesco Posts Worst-Ever Losses Amid Signs of Recovery

British grocery chain Tesco on Wednesday reported its worst full-year results ever, with losses of £6.4 billion for 2014-15, although there are indications of a possible turnaround. While the company struggles More...

Vered Weiss On Thursday, April 16th, 2015

Tesco Rids Itself of Corporate Jets to Please Angry Shareholders

After stating pie in the sky profits, Tesco has decided that the only way it can get its feet on the ground and mollify irate shareholders is by getting rid of its corporate jets, as reported by the Financial More...

Eli Horn On Saturday, January 31st, 2015

Sainsbury, Top UK Supermarkets May Face Fines over Violation of Groceries Code

  British supermarkets that fail to abide by the U.K.’s Groceries Code may face fines in the near future. UK Business Secretary Vince Cable on Thursday tabled measures in Parliament which will give the More...

Vered Weiss On Tuesday, January 20th, 2015

Morgan Stanley Analyst Says the Market Underestimates Tesco

Prospects look brighter for Tesco, the British supermarket chain, after Morgan Stanley upgraded the stock from equalweight to overweight, according to the Financial Times. Edouard Aubin, a Morgan Stanley More...

Eli Horn On Wednesday, January 14th, 2015

Sainsbury to Implement Layoffs Under Expense Reduction Program

  J Sainsbury Plc plans to cut about 500 jobs at its store support centers as U.K. grocers seek to bring down costs amid a supermarket price war, Bloomberg said. The reductions at centers located in London, More...

Eli Horn On Friday, January 9th, 2015

British Supermarket Tesco Announces Comprehensive Turnaround Plan

    Tesco CEO Dave Lewis has unveiled his plan to turn around the struggling British grocer, with drastic reductions in its head office staff, the company dividend, its video service and pension More...

Vered Weiss On Tuesday, January 6th, 2015

Sainsbury’s Sales Slump, Sits on Empty Land

Britain’s legendary supermarkets, like Sainsbury’s and Tesco have had a “truly awful year, ” according to the Telegraph, and are sitting on copious acres of land it may be unprofitable More...

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