Retail news
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Tesco begins 3,000 product price war
- Posted:
- 23 September 2011 09:39
The UK's biggest supermarket, Tesco, threw down the gauntlet to its rivals today as it unveiled a £500 million price-cutting campaign.UK chief executive Richard Brasher said it would reduce the prices of 3,000 everyday products - such as milk, bread and fruit and vegetables - in a move which is ...read more
Tesco Mortgage plans delayed
- Posted:
- 22 September 2011 10:10
Tesco's long-awaited move into the mortgage market is set to be delayed until after a pivotal Christmas trading season, sources said today.Tesco Bank was due to offer its first mortgages this autumn but its entry is not now expected until early 2012 as it ensures its systems work properly after ...read more
John Lewis profits slip
- Posted:
- 14 September 2011 09:57
John Lewis posted a slide in profits today after its "never knowingly undersold" promise meant it had to match heavy discounting by rivals.The Partnership, which is owned by its 76,500 staff, reported a 55% fall in operating profits at its department stores division to £15.8 million, despite a 1% increase ...read more
Tesco pulls out of Japanese market
- Posted:
- 31 August 2011 09:11
Supermarket giant Tesco is to sell its stores in Japan after admitting defeat in its eight-year push to become a major player in the country.Japan is the smallest of Tesco's international businesses, with 129 small stores in the Greater Tokyo area under the Tsurakame and Tesco formats.The UK retailer has ...read more
Tesco announces key IT deal with US firm
- Posted:
- 30 August 2011 09:26
British supermarket giant Tesco today announced a 45 million US dollars (£27.4 million) deal with a US firm to manage its IT network.New York-state based firm CA Technologies will monitor the IT network for Tesco Group, including Tesco Bank, Tesco.com and Tesco Mobile.The company will deal with a wide range ...read more
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