User: rohan Topic: Foreign Direct Investment in Retail
Category: Big Box Retailers :: Tesco
Last updated: May 25 2016 23:43 IST RSS 2.0
 
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McDonald's in historic agreement to contain Arctic cod fishing 25.5.2016 Deccan Herald - Business
Food giants McDonalds and Tesco have signed a "historic" agreement to not expand cod fishing into untouched parts of the Arctic, where the ice melt has sparked fears of a rush on unexploited areas, Greenpeace said today. "This is a historic agreement that brings together the main players in the cod fishing" in the Barents Sea and the Norwegian Sea, said Frida Bengtsson, a marine environment specialist at Greenpeace. "In the absence of significant legal protection of the icy waters of the northern Barents Sea, this is an unprecedented step from the seafood industry," she said. The agreement, which has been signed by global seafood suppliers as well as British retail chains Tesco, Sainsburys and Marks and Spencer, freezes bottom trawling in areas around the Svalbard archipelago. It requires seabed mapping to determine the fragility of an area before it is opened up for fishing. The agreement was brokered by environmental group Greenpeace and marks the first time the seafood industry has voluntarily ...
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Tesco Bank boss Benny Higgins spent more than £18,000 on taxis 20.5.2016 The Guardian -- Front Page

Despite a clampdown on costs, Higgins spent more than the annual salary of a supermarket shop assistant on taxis in eight months

The boss of Tesco Bank spent more than £18,000 on London taxis in just eight months last year, being taken to upmarket restaurants, private members’ clubs and the supermarket’s various head offices despite the tough new approach to costs adopted by the grocer’s chief executive, Dave Lewis.

When Lewis arrived at the business in October 2014, he ordered the immediate sale of the supermarket’s fleet of corporate aircraft and said he would be taking the train rather than a car into London from Tesco’s Hertfordshire head office. That saving alone, he said, would pay for an extra member of staff in store for a day.

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Global, Indian biggies keen on food retail, says minister 29.4.2016 TOI: India Business
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Recruitment drive 20.4.2016 The Hindu: Today's Paper
Recruitment drive
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Recruitment drive 20.4.2016 Hindu: News
TESCO HSC, a technological and retail operations centre in Bengaluru, will conduct a recruitment drive to select candidates for the post of officer at the College of Business Administration Lingaraj C...
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Low prices every day 13.4.2016 Latest News
One thing Tesco doesn't stock is pricing power
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Tesco warns on profit growth in tough retail market 13.4.2016 The Guardian -- Front Page

Supermarket’s share price falls as Dave Lewis warns of ‘challenging and uncertain market’

Tesco’s share price has fallen after the boss of the UK’s largest supermarket chain expressed caution on its ability to grow profits, despite reporting its best domestic sales performance in more than three years.

Tesco eked a pre-tax profit of £162m compared with last year when it crashed to the biggest loss ever recorded on the UK high street, slumping £6.4bn into the red after taking massive writedowns on its property portfolio and stock.

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Aldi cranks up the pressure on the big four supermarkets 2.4.2016 The Guardian -- Front Page
Armed with cheap steaks, award-winning wines and baby food, the discount chain aims to renew its offensive on a struggling retail sector

The German discounter Aldi, once derided as naff, low-quality and irrelevant, has more than doubled its market share in the past four years, overtaking Waitrose to become the UK’s sixth-largest supermarket chain.

Along with Lidl, it has shaken up the market and forced chains like Tesco and Morrisons to slash prices, shed staff and offload stores as they try to rescue profits. Only 5% of its products are big brands such as Colgate or Coca-Cola, yet sales are rising by more than 15% a year.

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Local food majors seek strict provisions to ensure farmers benefit from new FDI rule 1.4.2016 ET: Food
A key condition for foreign companies to sell multi-brand food in India is that all the raw materials must be sourced locally and the products manufactured in India, Food Processing Minister Harsimrat Kaur Badal had said.
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UK supermarkets urged to stock more British lamb 20.3.2016 The Guardian -- Front Page

Only the German discount chain Aldi will sell entirely home-grown fresh lamb on a significant scale this Easter

Farmers have called on retailers to do more to support the British lamb industry, with only one supermarket chain set to sell entirely UK-grown lamb for Easter.

A classic roast leg of lamb remains a popular family dish over the Easter holiday. However, despite industry efforts to reduce the amount of chilled and frozen lamb imported from New Zealand, only the German discount chain Aldi will sell entirely British-grown fresh lamb on a significant scale this Easter.

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Asda to cut up to 750 jobs 17.3.2016 The Guardian -- Front Page

Supermarket chain will also close staff canteens as part of turnaround plan called Project Renewal

Asda has confirmed plans to cut up to 500 jobs in stores and 250 at its head office in Leeds as the retailer battles to protect profits while sales slide.

The supermarket chain is to close staff canteens in all stores and axe some shopfloor services such as photo processing and pizza-making as part of a turnaround plan called Project Renewal.

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Supermarkets pledge to cut food waste 20% by 2025 15.3.2016 Guardian: Environment

Local authorities and retailers including Asda, Sainsbury’s and Tesco sign voluntary Courtauld 2025 agreement to reduce food and drink waste

Britain’s leading supermarkets have pledged to drive down food and drink waste by a fifth within the next decade.

Retailers including Asda, Sainsbury’s, Tesco and Morrisons are backing a voluntary agreement, which also targets a 20% reduction in greenhouse gas emissions created by the food and drink industry.

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How can you sell jeans for £5.99? Easy … pay people 23p an hour to make them 13.3.2016 The Guardian -- World Latest
As Lidl trumpets its latest clothing bargain, we estimate just how the high street cost is made up – and who is paying a heavy price

Abracadabra! “Jean genie Lidl magics up £5.99 denims,” shouted the headline in a newspaper last weekend as it extolled the brilliance of the cut-price supermarket chain in once again undercutting its rivals.

The German retailer, it explained, was continuing its assault on the traditional supermarket giants by targeting the high street fashion-conscious with jeans selling for an astonishing £12 less than a similar pair in Tesco.

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Tesco slows sales decline as recovery gathers pace 8.3.2016 The Guardian -- Front Page

UK’s biggest supermarket enjoys best performance in months, bolstered by rising chocolate sales and pricing overhaul

Tesco has halved the pace of its sales decline in the past month as price cuts have helped stem the loss of customers elsewhere.

The UK’s biggest supermarket enjoyed its best performance since July, with sales down 0.8% in the 12 weeks to 28 February, compared with a 1.6% decline revealed a month earlier, according to analysts Kantar Worldpanel.

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Changing gears, Trent Hypermarket plans swift expansion 7.3.2016 All Companies Stories
Likely to open 20-30 stores in Maharashtra & Karnataka in FY17; expansion plan might require capex of Rs 100 crore
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Star, Future partner 5.3.2016 deccanherald.com
Star, a TATA & TESCO enterprise, has tied up with Future Consumer Enterprise (FCEL), to retail a wide range of food and non-food products across Star Bazaar stores. Star Bazaar aims to introduce close to 148 stock keeping units (SKUs) across 10 FCEL brands with a view to provide their customers a unique product price proposition. The FCEL range will be made available across large format hypermarkets of Star Bazaar in its initial phase, Trent said. Big portfolio FCEL's portfolio includes popular consumer brands in the food category like Sunkist, Tasty Treat, Karmiq, Desi Atta and Fresh & Pure; while Think Skin, Clean Mate and Care Mate constitute the non-food category. "With this tie-up, we will be bringing our customers an extensive range of high quality food products and non-food merchandise. Our objective is to enhance our existing range and ensure we address the growing needs of customers to access unique products at affordable price points," Trent Hypermarket Managing Director Jamshed Daboo ...
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Giant rivals join forces 4.3.2016 The Hindu: Today's Paper
Giant rivals join forces
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Future Group to sell few of its brands at rival Star Bazaar outlets, too 4.3.2016 ET: Retailing
Star Bazaar competes with Future Group’s Big Bazaar in a market that’s estimated by the Retailers’ Association of India at $600 billion.
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Giant rivals join forces 4.3.2016 Hindu: Home
Tata’s Star Bazaar to retail Future Group’s FMCG brands
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Biyani ties up with Tata-Tesco chain to supply Future brands 4.3.2016 News
Star Bazaar operated by Trent Hypermarkets would launch 148 products from 10 brands of Future Consumer Enterprise
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