Tesco

Britain’s Tesco raises annual profit outlook after strong first-half

Tesco expects to hit a retail operating profit of at least £2.8 billion this fiscal year.

Tesco sales rise as shoppers switch from rival grocers

The new fund which includes Australia’s Woolworths Group, will invest over five years in start-ups and scale-ups deploying technology to benefit consumers “by driving faster, more personalised and connected experiences across stores and online”.

Grocery giants including Tesco, Woolworths team up to launch US$125 million VC fund

The two companies will also enter into a 10-year deal that allows Barclays to use the Tesco brand to market and distribute credit cards, unsecured personal loans and deposits.

Barclays buys Tesco bank for £600 million

The supermarket group, which has a near 28 per cent share of Britain’s grocery market, expects a year to end-February 2024 retail adjusted operating profit of £2.75 billion (S$4.66 billion) versus the £2.49 billion made in 2022/23.

Britain's Tesco raises profit outlook after strong Christmas sales

A deal is likely to be struck by the end of the year.

Barclays in talks to buy Metro Bank's mortgage book worth US$3.74 billion

Barclays has already made an indicative bid, adding that it is particularly interested in Tesco Bank’s credit card and saving account products, according to one source.

Barclays explores deal for Tesco banking business: sources

Tesco had announced in May that its chairman John Allan (above) would leave after media allegations over his conduct towards women.  He has said that he "vehemently" denies the claims

Troubled retailer Tesco picks Burberry boss as chair

Supermarkets are under pressure to pass on price cuts to customers wherever possible, as grocery inflation remains particularly elevated in the UK.

Tesco sees signs of UK inflation starting to ease as sales rise

The company said that four allegations had been made in relation to Allan’s conduct, in the wake of investigations into the Confederation of British Industry, the business lobby group.

Tesco’s chairman John Allan steps down after complaints over conduct