Britain's biggest retailer Tesco has regained sole ownership of 21 superstores in a £733 million ($1 billion) asset swap with British Land, part of new boss Dave Lewis's plan to strengthen its core UK business.
The chairman of Britain's biggest grocery chain, Tesco, resigned after the company reported a bigger than expected hole in its finances and said accounting transgressions went back further than initially thought.
Tesco will slash its dividend and investment spending to give its new boss more firepower to rebuild Britain's biggest retailer, after a second profit warning in two months showed the scale of the task it faces.
The grocer sai
Choithrams, a leading UAE based supermarket chain, will introduce over 1,000 Tesco products, following an exclusive agreement with Mena Holdings Group, Tesco’s exclusive distributor of private label for the Middle East and North A
Tesco, Britain's biggest retailer, will launch its first own-brand smartphone by the end of the year, building on the success of the Hudl tablet it launched last year, it said on Tuesday.
A spokesman for the firm said the Tesc
The UAE-based Choithrams is set to announce a strategic partnership with the UK-based Tesco, the world's third largest retailer, next week.
Choithrams will make the partnership announcement at a press conference being held in
Britain's Tesco has sealed a joint venture agreement with a unit of India's Tata Group that will see it invest $140 million and become the first foreign supermarket to enter the country's $500 billion retail sector.
Tesco, the world's No.3 retailer, announced a franchise deal with Fawaz Abdulaziz Al Hokair & Co, the largest owner of shopping malls in Saudi Arabia, as part of a drive to transform its F&F clothing range into an international fashion
Tesco has issued its first profit warning in living memory, sending shares in British grocers tumbling on fears the world's third-biggest retailer would launch a price war to fight back from its worst Christmas in decades.
The warning, whi