Tesco

Tesco logs £ 40 million annual net loss on accounting scandal

Tesco logs £ 40 million annual net loss on accounting scandal

The after-tax loss, equivalent to $50 million or 47 million euros, was skewed by a £235-million hit in costs arising from the three-year-old scandal.

Apr 12, 2017, 14:54 PM IST
Tesco to pay $162 million to settle false accounting charges

Tesco to pay $162 million to settle false accounting charges

Britain`s biggest retailer Tesco has agreed to pay a $162 million fine plus compensation to settle an investigation over a 2014 accounting fraud that sparked the biggest crisis in the company`s near 100-year history.

Mar 28, 2017, 13:01 PM IST
Tesco pulls Unilever goods in Brexit row after pound plunges

Tesco pulls Unilever goods in Brexit row after pound plunges

Britain`s biggest retailer Tesco pulled Unilever goods such as Marmite from its website in a pricing row sparked by the Brexit-induced plunge in the pound, one of the most vivid signs to date of how leaving the EU could hurt consumers.

Oct 13, 2016, 14:18 PM IST

Tesco says Q3 sales dip, but improve over Christmas

Troubled British supermarket giant Tesco posted sliding quarterly sales Thursday as the nation`s biggest retailer faced fierce competition but put in a solid performance over Christmas.

Jan 14, 2016, 16:18 PM IST
British supermarket Tesco reports £365 million loss in first half

British supermarket Tesco reports £365 million loss in first half

Tesco is seeking to overhaul its business after reporting the biggest annual loss in its near 100-year history of £5.74 billion for the year to February.

Oct 07, 2015, 19:15 PM IST

Britain's Tesco reports improvements despite sales drop

British supermarket giant Tesco reported a 2.0 percent drop in sales for its first quarter Friday and warned of "volatility" but said performance was improving following a record annual loss.

Jun 26, 2015, 14:01 PM IST

Tesco scandal puts spotlight on UK's annual company audit checks

Tesco's book-keeping scandal has prompted Britain`s accounting policeman to turn a spotlight on annual reports in the retail sector to check for similar irregularities.

May 29, 2015, 11:38 AM IST

Tesco reports £5.74 bn annual net loss

Britain`s biggest retailer, supermarket group Tesco, announced Wednesday that it had plunged massively into the red last year as it took a hit on the value of its property.

Apr 22, 2015, 12:00 PM IST

Britain`s Tesco picks new chairman

Troubled British supermarket giant Tesco on Tuesday named John Allan as chairman, ending a four-month search after Richard Broadbent resigned amid an accounting scandal.

Feb 18, 2015, 01:08 AM IST

Tesco to cut up to 10,000 jobs - Sunday Telegraph

Britain`s biggest supermarket Tesco could cut up to 10,000 jobs as part of its attempts to halt a slide in profits, The Sunday Telegraph newspaper reported.

Feb 15, 2015, 20:06 PM IST

Britain's Tesco says 2,000 jobs under threat

Troubled British supermarket giant Tesco said Wednesday it could axe as many as 2,000 jobs under plans to shut 43 stores in a company-wide overhaul.

Jan 29, 2015, 00:17 AM IST

Tesco debt cut to junk by Standard & Poor`s

Britain`s Tesco suffered a fresh blow Wednesday as Standard & Poor`s became the second ratings agency after Moody`s to slash the troubled supermarket`s debt to junk status, despite its turnaround plans.

Jan 14, 2015, 23:34 PM IST

Tesco kicks off fightback with cost cuts and asset sales

Tesco will slash costs and sell assets to fund lower prices and mend its finances, Britain`s biggest retailer said on Thursday.

Jan 09, 2015, 04:36 AM IST

Tesco warns on profits amid fraud probe

Supermarket group Tesco, Britain`s biggest retailer, said Tuesday said it expected profits to take a major hit as it refocuses the business amid a fraud investigation into its finances.

Dec 09, 2014, 13:33 PM IST

Tesco shareholders sue over profits overstatement

Tesco shareholders are to sue the British supermarket giant for compensation after the revelation of profit overstatements sent its stock tumbling, a London law firm said on Tuesday.

Nov 26, 2014, 10:45 AM IST

Tesco chairman resigns as profits error deepens

The chairman of Britain`s biggest retailer Tesco resigned on Thursday as the troubled supermarket group said a huge accounting error began earlier than thought and contributed to plunging profits.

Oct 23, 2014, 12:15 PM IST

Tesco cuts profit outlook and suspends staff after accounting error

Britain`s biggest retailer, supermarket group Tesco, has launched an investigation after revealing that it had overstated its half-year profit forecast by £250 million ($409 million, 318 million euros), it said on Monday.

Sep 22, 2014, 12:26 PM IST

Government not to allow FDI in multi-brand retail

The union government has decided not to allow any foreign direct investment in the multi-brand retail trade. This was stated by Commerce and Industry Minister- Nirmala Sitharaman on Monday.

Sep 08, 2014, 17:00 PM IST
Tesco launches new lingerie inspired by EL James' '50 Shades of Grey'

Tesco launches new lingerie inspired by EL James' '50 Shades of Grey'

Tesco has recently launched new lingerie and sleepwear collection, which has been inspired by author EL James' ' Fifty Shades of Grey .'

Sep 06, 2014, 15:15 PM IST

Tesco issues new profit warning, slashes dividend

Troubled British supermarket giant Tesco on Friday issued another profits warning and slashed its shareholder dividend by 75 percent, blaming challenging trade and the high cost of investment.

Aug 29, 2014, 12:58 PM IST