Tesco, the UK’s largest supermarket, has posted the worst financial results in its century-long history, with £6.38 billion of pre-tax losses in the year to February 28.
UK retailer Tesco will this week announce the biggest losses in its 96-year history, as the company struggles to find its feet after last year’s profit scandal.
Just hours after the announcement that Majestic Wines has bought loss-making Naked Wines, an event in London has highlighted the challenges of turning a profit in the UK’s £720m online wine market.
Tesco has appointed Dixons Carphone deputy chairman John Allan to lead its board of directors after the departure of Richard Broadbent.
Tesco has agreed to pay its former CEO and CFO over £2 million in “damages” after they stepped down in October following the company’s profit scandal.
The UK’s biggest supermarket and drinks retailer Tesco is planning to cut its range of wine, beer and spirits by a third, according to reports.
An “unprecedented” new body combining the drinks trade and retailers has published its first set of guidelines on alcohol standards in retail.
The board of UK supermarket Morrisons has voted to oust its CEO after the retailer performed the worst of the big supermarkets over Christmas.
Tesco is predicting its full-year profits will be £400-800 million below market expectations, prompting its stock price to nosedive by 16%.
Northern Ireland health minister Jim Wells has said he plans to bring in minimum unit pricing, with plans for a public consultation in the new year.
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