Tesco news and archive

Tesco prepares for online F&F launch as annual sales grow

Supermarket giant Tesco has revealed that it plans to carry out an online launch of its clothing brand F&F in the coming year. The news comes as the retailer posted its preliminary results for the fiscal year 24/25, during which time it welcomed a growth in group sales. For the period, overall sales, excluding fuel and VAT, rose to 63.63 million...

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Tesco names H&M veteran as MD for home and clothing

Supermarket giant Tesco has appointed Katja Ahola Klamkin as its new group managing director for home and clothing. She succeeds Jan Marchant, who is exiting the company after almost 20 years. Klamkin joins Tesco from H&M, where she has held roles of increasing responsibility over the course of 27 years. She had first joined the fast fashion...

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Business

Tesco to axe 400 jobs in efforts to simplify business

Supermarket giant Tesco has revealed plans to cut around 400 jobs as it looks to “simplify” its business model. Speaking to multiple media outlets, the retailer said that it was exploring “more efficient ways of working” to keep up with increased competition within the UK grocery sector. Those to be impacted are among the company’s bakeries,...

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Business

Tesco sales up over Q3 and Christmas, growth in clothing

Supermarket giant Tesco welcomed positive performance over Q3 and Christmas, covering the 19 weeks to 4 January 2025, reporting an increase in like-for-like sales during both periods. In the UK and Republic of Ireland, sales rose 3.1 percent, while for Central Europe, they were up 3.5 percent. Overarching retail sales increased 3.1 percent,...

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Tesco clothing sales up as category continues to grow

British supermarket giant Tesco has reported a “strong performance” for its clothing category, which it said had helped boost its Home and Clothing division where sales rose 0.3 percent. This was revealed in the company’s latest interim report for the financial year 2024/25, when volume growth and market share gains were notably highlighted by...

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Business

Tesco introduces ‘digital passports’ for clothing ahead of EU crackdown

British supermarket giant Tesco is believed to have introduced “digital passports” for its clothing range in response to an incoming EU crackdown on sustainability that is set to come into play over the next few years. According to a report by The Telegraph, the retailer has applied the tool to each item in its F&F fashion range, providing...

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Fashion

In The Style establishes partnership with Tesco’s F&F brand

Fast fashion retailer In The Style (ITS) has announced a new partnership with F&F, the clothing brand of supermarket giant Tesco. Through the deal, the duo will release a collaborative collection set to launch on the ITS app and in 300 nationwide Tesco stores from June 20. Among the 22 piece collection will be a range of seasonal summer looks...

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Clothing drives non-food sales for Tesco’s Q1

British supermarket giant Tesco has reported its financials for the 13 weeks ended May 25, 2024, in which it saw its like-for-like sales rise 3.6 percent across the UK and ROI to 14.3 million pounds. While food sales continued to be the core driver for its overarching performance, with a quarterly growth of 5 percent, in the non-food category,...

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Tesco ups FY profit outlook, but Home and Clothing sales fall in H1

British supermarket giant Tesco has upped its full-year profit guidance after reporting a robust first half of the year, despite sales at its Home and Clothing division declining. The retailer reported a 8.9 percent increase in group revenue in the six months to August 26, reaching 30.7 billion pounds. That came as its profit surged to 929...

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Retail

Project Pegasus: John Lewis and Next among those joining crackdown on shoplifting

As the UK continues to battle on through its cost-of-living crisis, an increasingly prominent offset of the financial crunch has become front of mind for many retailers in the region. Shoplifting and retail theft is up 27 percent across 10 of the largest cities in the UK, according to the British Retail Consortium (BRC), which had been calling...

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Gerry Murphy to join as Tesco board chairman in September

Burberry Group plc chairman Gerry Murphy has been appointed as chair of the Tesco PLC board of directors with effect from September 1, 2023. The company said in a release that Murphy will step down as chair of Tate & Lyle PLC on the same day. Upon Murphy’s appointment, Tesco added, Byron Grote will step down from his role as the company's...

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Tesco hails ‘early signs’ of easing inflation in Q1 trading report

Supermarket giant Tesco is celebrating the “encouraging early signs” of easing inflation in its Q1 trading report for 2023/24, in which it reported a UK and ROI like-for-like sales increase of 8.8 percent, hitting 13,790 million pounds. In Central Europe the retailer also saw an increase of 1.1 percent, taking its sales in the region to 1,044...