• Sun
  • Aug 31, 2014
  • Updated: 5:24pm


Founded in 1919 as a market stall in the East End of London, Tesco is now a major UK-based retailer, employing more than 500,000 people with operations in 14 countries.

Tesco profit declines for second year as UK sales worsen

Tesco, Britain's largest retailer, reported a second consecutive decline in annual earnings after a slump in domestic sales and said it wrote down the value of assets in Europe amid deteriorating profitability.

Thursday, 17 April, 2014, 1:09am

CRE confident of future Tesco profit

China Resources Enterprise (CRE), a retail-focused mainland conglomerate, said net profit sank 51.6 per cent to HK$1.91 billion last year, but the management expects a promising future due to its new joint venture with British supermarket giant Tesco.

21 Mar 2014 - 12:43am

Tesco to use face-scanning technology at tills, show ads

Britain's biggest retailer, Tesco, is to install screens at its petrol stations that scan customers' faces so that advertising can be tailored to their age and gender.

5 Nov 2013 - 5:45am

Tesco buys stake in retail venture for HK$4.33b

Top British retailer Tesco will pay HK$4.33 billion to gain 20 per cent of a venture with China Resources Enterprise that will run supermarkets and other stores on the mainland and in Hong Kong.

3 Oct 2013 - 2:42am

China Resources, Tesco mull joint bid for ParknShop

Tesco, Britain's largest retailer, may join forces with state-backed China Resources Enterprise to bid for ParknShop. Frank Lai Ni-hium, the chief financial officer of China Resources, said the two companies were "in discussion" that might lead to a possible joint bid for the supermarket chain.

22 Aug 2013 - 4:44am

Tesco denies it prefers hiring migrants to Britons

In remarks that could drag British retailers into a politically charged immigration debate ahead of a 2015 election, senior Labour lawmaker Chris Bryant was due to say in a speech yesterday that Tesco and Next deliberately excluded British people from jobs.


13 Aug 2013 - 2:38am

Tesco venture takes fresh crack at China market

Tesco, Britain's largest grocery and general merchandise chain, has signed a memorandum of understanding to establish a joint venture with China Resources Enterprise in a bid to revive its fortunes in the world's most populous country.

10 Aug 2013 - 4:40am

Tesco bosses told: 'end profit fall or no bonus'

Senior managers at the British supermarket chain Tesco will only receive bonuses if they manage to reverse the grocer's declining profits, according to the group's annual report last week.

25 May 2013 - 2:53am

Chinese dealers strip shelves of baby milk worldwide

Blamed for empty shop shelves from Europe to Australia, networks of baby formula traffickers are shipping milk powder to Chinese parents fearful of local products, and working ever harder to meet demand.

12 Apr 2013 - 2:36pm 3 comments

Chinese demand for baby milk causes ‘ration’ in Britain

British retailers are limiting purchases of baby milk powder to prevent customers from bulk-buying and exporting it to China for profit. Leading supermarket chains Tesco and Sainsbury’s say they have started advising customers to buy no more than two tins of milk powder in each transaction. The British Retail Consortium said on Wednesday other retailers are imposing similar limits to ensure there is enough stock for everyone wanting baby milk.

11 Apr 2013 - 12:13am