https://www.scmp.com/rss/167857/feed 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. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Bloomberg Bloomberg Diageo is considering options for its Chinese assets, including potential divestments, people familiar with the matter said, as the maker of Guinness and Johnnie Walker seeks to streamline its portfolio. Diageo is working with Goldman Sachs and UBS Group to review its operations, which include a more than 63 per cent stake in Shanghai-listed Sichuan Swellfun, the people said, asking not to be identified because the information was not public. The advisers have been sounding out initial interest... https://www.scmp.com/business/china-business/article/3339751/johnnie-walker-maker-diageo-weighs-options-china-assets-including-sale-sources-say?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3339751/johnnie-walker-maker-diageo-weighs-options-china-assets-including-sale-sources-say?utm_source=rss_feed Tue, 13 Jan 2026 09:48:27 +0000 Bloomberg Bloomberg Price inflation in British shops rose to its highest level in 19 months, as consumers pay at the checkout for a slew of new taxes that have ramped up retailers’ costs. The rate of inflation grew to 1.4 per cent in September from a year earlier, an acceleration from August, the British Retail Consortium (BRC) said on Tuesday. DIY and gardening products saw price rises while back-to-school items including laptops were reduced. Retailers are battling with ballooning costs as a result of tax and... https://www.scmp.com/news/world/europe/article/3327304/uk-shoppers-feel-pinch-prices-hit-19-month-high-fuelling-inflation-fears?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/3327304/uk-shoppers-feel-pinch-prices-hit-19-month-high-fuelling-inflation-fears?utm_source=rss_feed Tue, 30 Sep 2025 01:26:30 +0000 Fast-fashion online retailer Shein, which is hoping to list in London, faces a UK hearing on January 7 where a British parliamentary committee plans to question the firm, founded in China in 2008, about the rights of workers in its supply chain. The cross-party Business and Trade Committee will also question Temu, the global online marketplace owned by Chinese e-commerce firm PDD Holdings, as part of an inquiry into employment rights opened in October. The committee, chaired by former Labour... https://www.scmp.com/tech/tech-trends/article/3293213/uk-lawmakers-summon-shein-and-temu-questioning-over-labour-practices?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3293213/uk-lawmakers-summon-shein-and-temu-questioning-over-labour-practices?utm_source=rss_feed Thu, 02 Jan 2025 17:38:16 +0000 The British government is looking at plans to have retailers cap the prices of basic food items such as bread and milk, the Telegraph newspaper reported, as the cost of such essentials continued to rise in the double digits. However, asked about such price controls, health minister Steve Barclay told BBC TV it was “not my understanding” on Sunday. Prime Minister Rishi Sunak’s government is in talks with supermarkets on a deal similar to one in France where major retailers charge the “lowest... https://www.scmp.com/news/world/europe/article/3222121/uk-government-ask-supermarkets-cap-prices-basic-food-items-cost-essentials-continues-rise?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/3222121/uk-government-ask-supermarkets-cap-prices-basic-food-items-cost-essentials-continues-rise?utm_source=rss_feed Sun, 28 May 2023 17:02:42 +0000 Britain’s biggest retailer Tesco is facing legal action from a group of migrant workers from Myanmar, alleging dire working conditions at a Thai factory which made clothes for the group’s F&F range. Law firm Leigh Day said 130 migrant workers are bringing a legal claim against Tesco, Ek-Chai Distribution System Company Limited, which was owned by Tesco until 2020, and auditing companies Intertek Group and Intertek Testing Services (Thailand) Limited. The migrants allege they were made to work up... https://www.scmp.com/news/asia/southeast-asia/article/3204020/tesco-accused-making-low-wage-workers-clock-99-hour-weeks-thai-factory?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3204020/tesco-accused-making-low-wage-workers-clock-99-hour-weeks-thai-factory?utm_source=rss_feed Tue, 20 Dec 2022 12:24:10 +0000 The bright yellow security labels and products boxed up in hard-to-conceal packaging on Britain’s supermarket shelves have a story to tell: theft is on the rise along with the soaring cost of living. Incidents of shoplifting in the UK increased 18 per cent in the 12 months through to June as the highest inflation in more than four decades has pushed up prices on items ranging from bread to pasta, making it more difficult for consumers to afford basics. With more inflation set to come, theft may... https://www.scmp.com/news/world/europe/article/3200373/britain-shoplifting-soars-desperate-consumers-contend-highest-inflation-decades?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/3200373/britain-shoplifting-soars-desperate-consumers-contend-highest-inflation-decades?utm_source=rss_feed Mon, 21 Nov 2022 06:05:18 +0000 UK-based multinational groceries chain Tesco has found abuses against migrant workers at its stores and distribution centres in Malaysia and Thailand, it said in its annual modern slavery statement. The company listed allegations based on interviews with 168 migrant workers in Malaysia and 187 in Thailand that included passport retention, unexplained and illegal wage reductions, heavy indebtedness to labour brokers and excessive overtime work. In Malaysia, the passports of 68 Indonesian and 171... https://www.scmp.com/news/asia/southeast-asia/article/3084714/tesco-workers-malaysia-and-thailand-abused-uk-grocer-says?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3084714/tesco-workers-malaysia-and-thailand-abused-uk-grocer-says?utm_source=rss_feed Sat, 16 May 2020 11:08:29 +0000 Foreign grocers continue to retreat from China and Asia as they face increasing competition from e-commerce companies, struggle to adapt to local tastes and find it difficult to differentiate themselves without local partners, according to analysts and industry experts. Since the beginning of 2018, French grocer Carrefour, German supermarket operator Metro and Spanish rival Dia have either sold outright or ceded control of their China operations to their joint venture partners. In 2018, British... https://www.scmp.com/business/companies/article/3074778/tesco-foreign-grocers-leaving-asia-competition-e-commerce-local?utm_source=rss_feed https://www.scmp.com/business/companies/article/3074778/tesco-foreign-grocers-leaving-asia-competition-e-commerce-local?utm_source=rss_feed Thu, 12 Mar 2020 05:08:32 +0000 Thailand’s biggest conglomerate Charoen Pokphand Group has locked in funding for its proposed acquisition of Tesco’s businesses in Thailand and Malaysia for US$10.6 billion, allowing its billionaire owner to build on its dominance at home and expand in the region. CP Group has turned to JPMorgan Chase, UBS and Siam Commercial Bank to underwrite the deal, according to people involved in the discussions. The transaction, if approved, represents the biggest merger and acquisition deal in Asia... https://www.scmp.com/business/banking-finance/article/3074581/thai-billionaire-dhanin-secures-funding-tescos?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3074581/thai-billionaire-dhanin-secures-funding-tescos?utm_source=rss_feed Wed, 11 Mar 2020 03:15:11 +0000 Britain’s biggest retailer, Tesco, has completed its exit from China with the £275 million (US$357 million) sale of its joint venture stake to state-run partner China Resources Holdings (CRH). Having struggled to crack the Chinese market, Tesco established the Gain Land venture with CRH in 2014, combining the British group’s 131 stores in China with its partner’s almost 3,000 outlets. The disposal of its 20 per cent stake allows Tesco to further simplify and focus the business on core... https://www.scmp.com/business/companies/article/3052316/british-supermarket-giant-tesco-exits-china-us357-million-sale?utm_source=rss_feed https://www.scmp.com/business/companies/article/3052316/british-supermarket-giant-tesco-exits-china-us357-million-sale?utm_source=rss_feed Tue, 25 Feb 2020 13:10:19 +0000 The head of a Shanghai prison has denied reports in a British media outlet that it used foreign inmates for forced labour, claiming prisoners were voluntarily undergoing “re-education”. Li Qiang, director and Communist Party secretary of Qingpu District Prison, said the report in The Sunday Times was groundless and based on “rich imagination”, China’s state broadcaster CCTV reported. Li’s defence of the prison came after a six-year-old girl in London found a message written inside a greeting... https://www.scmp.com/news/china/society/article/3043480/chinese-prison-tesco-scandal-offers-re-education-and-served?utm_source=rss_feed https://www.scmp.com/news/china/society/article/3043480/chinese-prison-tesco-scandal-offers-re-education-and-served?utm_source=rss_feed Wed, 25 Dec 2019 06:30:12 +0000 China denied allegations that foreign prisoners were being used as forced labour after media reports that a British girl had found a plea for help in a Christmas card. The Sunday Times reported over the weekend that a six-year-old girl in London had found a message in a Christmas card bought from a Tesco supermarket apparently written by a prisoner who said they were forced to work against their will. But China’s foreign ministry insisted the report had been “made up” by Peter Humphrey, a former... https://www.scmp.com/news/china/diplomacy/article/3043295/china-denies-forced-labour-claims-after-prisoners-message?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3043295/china-denies-forced-labour-claims-after-prisoners-message?utm_source=rss_feed Mon, 23 Dec 2019 15:30:09 +0000 Shanghai’s Qingpu Prison, the Chinese prison at the centre of a forced labour scandal, describes itself as a “first-class” facility, where inmates can learn about jade sculptures and receive therapy. But the jail, which holds both Chinese and foreign prisoners, is now embroiled in controversy after a purported secret message was sent in a Christmas card and discovered by a London schoolgirl. The Sunday Times newspaper reported at the weekend that a six-year-old named Florence Widdicombe opened a... https://www.scmp.com/news/china/society/article/3043238/chinas-qingpu-prison-first-class-facility-centre-tescos-forced?utm_source=rss_feed https://www.scmp.com/news/china/society/article/3043238/chinas-qingpu-prison-first-class-facility-centre-tescos-forced?utm_source=rss_feed Mon, 23 Dec 2019 07:26:45 +0000 British supermarket giant Tesco suspended a Chinese supplier of Christmas cards on Sunday after a press report that a customer had found a message written inside a card saying it had been packed by foreign prisoners who were victims of forced labour. “We abhor the use of prison labour and would never allow it in our supply chain,” a Tesco spokesman said on Sunday. “We were shocked by these allegations and immediately suspended the factory where these cards are produced and launched an... https://www.scmp.com/news/china/politics/article/3043158/tesco-suspends-chinese-supplier-christmas-cards-over-prison?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3043158/tesco-suspends-chinese-supplier-christmas-cards-over-prison?utm_source=rss_feed Sun, 22 Dec 2019 10:59:37 +0000 With the outbreak of the trade war with the United States and the imposing of US tariffs, China’s foreign trade and investment environment is facing great changes. Some foreign investors have chosen to withdraw to avoid tariffs and evade sanctions. At a July 11 news conference in Beijing, commerce ministry spokesman Gao Feng said he had noticed reports of affected business confidence at some foreign firms in the country but that the government will continue to safeguard the business... https://www.scmp.com/comment/opinion/article/3020234/what-makes-chinas-latest-wave-foreign-capital-withdrawal-different?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3020234/what-makes-chinas-latest-wave-foreign-capital-withdrawal-different?utm_source=rss_feed Sun, 28 Jul 2019 19:00:11 +0000 Bosses at top supermarkets and food chains on Monday urged British lawmakers to avoid a no-deal Brexit or risk reducing the availability of many products. On the eve of parliament’s vote on unlocking the Brexit impasse, 10 food chiefs plus industry body the British Retail Consortium (BRC) called on MPs to work “urgently to find a solution that avoids the shock of a no-deal Brexit on 29 March and removes … risks for UK consumers. “We anticipate significant risks to maintaining the choice, quality... https://www.scmp.com/news/world/europe/article/2184014/top-food-store-chiefs-warn-no-deal-brexit-could-threaten-uks-food?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/2184014/top-food-store-chiefs-warn-no-deal-brexit-could-threaten-uks-food?utm_source=rss_feed Mon, 28 Jan 2019 20:41:57 +0000 "Things are always unnoticed, until they're noticed," Tesco chairman Richard Broadbent said when asked how Britain's biggest retailer had failed to spot a £250 million (HK$3.14 billion) sized hole in its first-half profit. It was an oversight that led to a £4 billion drop in Tesco's market value and the suspension of four senior executives. The newly installed chief executive called in forensic accountants and lawyers to find out what went wrong. Whether conspiracy or cock-up, the scandal raises... https://www.scmp.com/business/companies/article/1608795/tesco-fails-see-us410m-hole-first-half-profits?utm_source=rss_feed https://www.scmp.com/business/companies/article/1608795/tesco-fails-see-us410m-hole-first-half-profits?utm_source=rss_feed Fri, 03 Oct 2014 05:03:58 +0000 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. So-called group trading profit fell 6 per cent to £3.32 billion (HK$43 billion) in the year to February 22, the supermarket company said, compared with the £3.23 billion average estimate of 13 analysts. The grocer also said fourth-quarter same-store sales dropped 2.9 per cent in Britain... https://www.scmp.com/business/companies/article/1484841/tesco-profit-declines-second-year-uk-sales-worsen?utm_source=rss_feed https://www.scmp.com/business/companies/article/1484841/tesco-profit-declines-second-year-uk-sales-worsen?utm_source=rss_feed Wed, 16 Apr 2014 17:09:59 +0000 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. The partnership was formed last October, with Tesco injecting all of its mainland stores into the joint venture and taking a 20 per cent stake. Tesco's most recent annual pre-tax losses in China amounted to HK$3 billion. "When we bought Home World,... https://www.scmp.com/business/china-business/article/1453204/china-resources-enterprise-profit-halved-poor-results-retail?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1453204/china-resources-enterprise-profit-halved-poor-results-retail?utm_source=rss_feed Thu, 20 Mar 2014 06:30:15 +0000 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. The world's third biggest supermarket chain will install the hi-tech screens at the tills of its 450 British petrol stations, according to Amscreen, the digital advertising firm that developed the technology. Amscreen chief executive Simon Sugar admitted that the devices were "like something out of Minority Report", the 2002... https://www.scmp.com/news/world/article/1347905/tesco-use-face-scanning-technology-tills-show-ads?utm_source=rss_feed https://www.scmp.com/news/world/article/1347905/tesco-use-face-scanning-technology-tills-show-ads?utm_source=rss_feed Mon, 04 Nov 2013 21:00:15 +0000 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. The venture, announced in August, will combine Tesco's 134 outlets and shopping centre business on the mainland with the almost 3,000 stores owned by the state-backed conglomerate on both sides of the border. The two firms planned to run supermarkets, convenience stores and liquor shops in greater China,... https://www.scmp.com/business/china-business/article/1322708/tesco-buys-stake-retail-venture-hk433b?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1322708/tesco-buys-stake-retail-venture-hk433b?utm_source=rss_feed Wed, 02 Oct 2013 02:48:35 +0000 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. China Resources, which is the largest retailer on the mainland and also owns Hong Kong's third-biggest supermarket chain Vanguard, this month signed a memorandum of understanding with Tesco to merge their... https://www.scmp.com/business/companies/article/1298488/china-resources-tesco-mull-joint-bid-parknshop?utm_source=rss_feed https://www.scmp.com/business/companies/article/1298488/china-resources-tesco-mull-joint-bid-parknshop?utm_source=rss_feed Wed, 21 Aug 2013 16:00:00 +0000 Tesco, Britain's biggest retailer, has denied an accusation by the opposition Labour Party that it turns away British workers to exploit cheaper migrant labour. 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. Tesco, which employs more than 310,000 people in 3,146 stores across Britain and... https://www.scmp.com/news/world/article/1296147/tesco-denies-it-prefers-hiring-migrants-britons?utm_source=rss_feed https://www.scmp.com/news/world/article/1296147/tesco-denies-it-prefers-hiring-migrants-britons?utm_source=rss_feed Mon, 12 Aug 2013 16:00:00 +0000 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. CRE, China's second-biggest operator of hypermarkets including the Vanguard chain, would take an 80 per cent stake in the joint venture, and Tesco the remainder under the deal signed on Thursday, said a CRE statement submitted to the Hong Kong stock exchange... https://www.scmp.com/business/china-business/article/1295728/tesco-venture-takes-fresh-crack-china-market?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1295728/tesco-venture-takes-fresh-crack-china-market?utm_source=rss_feed Fri, 09 Aug 2013 16:00:00 +0000 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. Chief executive Philip Clarke and his management team missed out on a bonus and other long-term incentives last year as profit at Britain's largest supermarket company fell for the first time in two decades. "Our financial performance fell short of where we wanted it to be," Stuart Chambers, chairman of... https://www.scmp.com/business/companies/article/1245427/tesco-bosses-told-end-profit-fall-or-no-bonus?utm_source=rss_feed https://www.scmp.com/business/companies/article/1245427/tesco-bosses-told-end-profit-fall-or-no-bonus?utm_source=rss_feed Fri, 24 May 2013 16:00:00 +0000 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. Chinese parents haunted by scandals involving poisoned baby milk will pay premium prices – three or four times as much as domestic brands – for formula from Europe, where stores are limiting sales in the wake of the shortages. Even the Chinese buyers are complaining. “Its getting harder to find... https://www.scmp.com/news/china/article/1212929/chinese-dealers-strip-shelves-baby-milk-worldwide?utm_source=rss_feed https://www.scmp.com/news/china/article/1212929/chinese-dealers-strip-shelves-baby-milk-worldwide?utm_source=rss_feed Fri, 12 Apr 2013 06:34:39 +0000 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. Dairy manufacturer Danone said the increased demand... https://www.scmp.com/news/china/article/1211808/chinese-demand-baby-milk-causes-ration-britain?utm_source=rss_feed https://www.scmp.com/news/china/article/1211808/chinese-demand-baby-milk-causes-ration-britain?utm_source=rss_feed Wed, 10 Apr 2013 16:13:33 +0000 Foreign supermarket chains are struggling to compete on the mainland and should expand their online sales platforms to boost their revenues, industry insiders say. Against a backdrop of declining sales last year as the mainland economy slowed and shopping habits changed, foreign retailers slowed their previously aggressive expansion. "Sales at physical outlets will continue to drop, and foreign retailers should expand their presence online," said Shi Jun, a senior partner with Beijing-based... https://www.scmp.com/business/china-business/article/1156559/foreign-supermarkets-find-competition-tough-china?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1156559/foreign-supermarkets-find-competition-tough-china?utm_source=rss_feed Fri, 22 Feb 2013 16:00:00 +0000 British authorities have warned the public not to eat beef lasagne sold by the Findus brand and made in France after tests found it contained up to 100 per cent horse meat. In the latest in a string of food scares in Britain, the Food Standards Agency said that “criminal activity” was likely to blame and ordered further tests on the meat for a veterinary drug. Findus tested 18 of its beef lasagne products manufactured by supplier Comigel in France and found 11 meals containing 60 per cent to 100... https://www.scmp.com/business/companies/article/1145913/horse-lasagne-sparks-new-british-food-scare?utm_source=rss_feed https://www.scmp.com/business/companies/article/1145913/horse-lasagne-sparks-new-british-food-scare?utm_source=rss_feed Fri, 08 Feb 2013 02:33:09 +0000 Burgers containing horse DNA have been discovered at a second major plant in Ireland, the country’s agriculture department said on Monday, again pointing the finger at Poland as the country of origin for the raw materials. Food companies such as Tesco and Burger King last month found that beef products supplied by an Irish firm contained horse DNA, a scandal that has hit retailers with a wave of bad publicity and left Ireland’s 2 billion euro (US$2.7 billion) beef industry reeling. Results of... https://www.scmp.com/business/companies/article/1143616/horse-dna-found-burgers-second-major-irish-plant?utm_source=rss_feed https://www.scmp.com/business/companies/article/1143616/horse-dna-found-burgers-second-major-irish-plant?utm_source=rss_feed Tue, 05 Feb 2013 02:48:02 +0000 Tesco is trying to lure Chinese shoppers with promotions on soy sauce, cooking oil and apples this week. But Emily Zhang still won't do much shopping there. The 30-year-old Shanghai resident buys most of her produce at an informal market close to home where daily supplies are fresh, the location convenient and friendly vendors throw in the occasional cooking tip. Shoppers such as Zhang are pushing Tesco to shut Chinese outlets and open new ones more slowly two years after announcing plans to... https://www.scmp.com/business/china-business/article/1065370/tesco-and-walmart-say-goodbye-easy-expansion-china?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1065370/tesco-and-walmart-say-goodbye-easy-expansion-china?utm_source=rss_feed Fri, 19 Oct 2012 16:00:00 +0000 Stiff competition for prime locations and soaring rents mean big foreign retailers are shifting from leasing to buying land to develop their stores in mainland cities. 'There is a trend formulating. Most of them adopting this strategy are big-box retailers,' said Ada Nip, head of retail services at property consultant DTZ. The term 'big box' refers to physically large retail outlets that are often part of a chain. Nip said big-box retailers faced great pressure to pay sharply higher rents when... https://www.scmp.com/article/983073/foreign-retailers-buying-not-renting?utm_source=rss_feed https://www.scmp.com/article/983073/foreign-retailers-buying-not-renting?utm_source=rss_feed Wed, 26 Oct 2011 16:00:00 +0000 A Chinese University academic has called for the introduction of a cross-sector competition law after a survey found Hong Kong retailers, especially supermarkets, abused their market power with suppliers. The survey of 121 suppliers by the university's marketing department found many retailers dictated prices and demanded exclusivity. It found 62 per cent of respondents had been forced to share retailers' promotion fees and 63.6 per cent had to bear responsibility for damaged goods. More... https://www.scmp.com/article/585108/competition-law-needed-hk-says-professor?utm_source=rss_feed https://www.scmp.com/article/585108/competition-law-needed-hk-says-professor?utm_source=rss_feed Wed, 14 Mar 2007 16:00:00 +0000 Some 200 years ago Napoleon described Britain as a nation of shopkeepers. Shopping still plays a huge role in the recreational life of the nation - for proof, pay a visit to Oxford Street, the high street in the centre of the capital, in the weeks before Christmas. But this is changing, with the relentless growth of Web commerce forcing many retailers to the wall. It seems that only shops offering services unavailable on the internet are immune. In the apocalyptic words of one report, the... https://www.scmp.com/article/583082/london?utm_source=rss_feed https://www.scmp.com/article/583082/london?utm_source=rss_feed Tue, 27 Feb 2007 16:00:00 +0000 WHEN Guy Watson heard last week that the British supermarket giant Tesco had opened a store in Beijing he smiled wryly. Mr Watson, 47, is one of the few farmers in the UK prepared to speak his mind about the growing power of supermarkets, including the iconic retailer Tesco. That's because, unlike the vast majority of farmers, he doesn't sell to them. Eighteen years ago, his 350-hectare farm in Devon was certified organic. He set up the country's first 'box' scheme, whereby customers... https://www.scmp.com/article/580244/london?utm_source=rss_feed https://www.scmp.com/article/580244/london?utm_source=rss_feed Tue, 30 Jan 2007 16:00:00 +0000 People with a penchant for British actor Sean Bean, soy milk or a Cantopop duo will soon be bidding for their favourite number plates. Among plates up for grabs at the government's auction on January 20 will be SEANBEAN, V1TASOY and H1 TW1NS, along with 218 others submitted by members of the public. Others include BATMAN, SE1KO, HYATT and TESCO. A Transport Department spokesman insisted none of the plates referred to individual companies or brands and created no trademark or copyright... https://www.scmp.com/article/578007/hot-plates-go-under-hammer?utm_source=rss_feed https://www.scmp.com/article/578007/hot-plates-go-under-hammer?utm_source=rss_feed Tue, 09 Jan 2007 16:00:00 +0000 Mergers and acquisitions by domestic and foreign players dominated the headlines in China's retail sector last year and are likely to do so again this year as competition heats up in a retail market that rose 13.3 per cent in the first half of 2006 to 3.64 trillion yuan. Foreign retailers, mainly from Europe and America, are spending hundreds of millions of dollars to buy out Chinese counterparts. Analysts say the opening of the retail sector to foreign competitors - one of China's... https://www.scmp.com/article/577117/retail-mergers-cards-competition-heats?utm_source=rss_feed https://www.scmp.com/article/577117/retail-mergers-cards-competition-heats?utm_source=rss_feed Sun, 31 Dec 2006 16:00:00 +0000 Supermarket chain's losses come as competition heats up in crowded sector In a sign of the intense competition in China's retail sector, one of the biggest supermarket chains yesterday announced that it had closed stores in Beijing to stem rising losses while South Korea's biggest discount store operator opened a large new outlet in Shanghai. Wang Dongliang, a spokesman for Hualian Supermarket, said that it was reducing its operations in Beijing because of pressure from domestic and foreign... https://www.scmp.com/article/549240/hualian-woes-highlight-tough-market?utm_source=rss_feed https://www.scmp.com/article/549240/hualian-woes-highlight-tough-market?utm_source=rss_feed Wed, 17 May 2006 16:00:00 +0000 Beijing supermarket chain Wumart Stores has made its first acquisition since listing on the Growth Enterprise Market in November last year, agreeing to buy a stake in Beijing Chaoshifa in a bid to strengthen its income base. Trading in the shares of Wumart was suspended yesterday, pending an announcement of the acquisition. Wumart shares ended at $12.20 on Tuesday. A source confirmed that Wumart had signed an agreement to buy a stake in Chaoshifa, which operates 50 supermarkets in Beijing... https://www.scmp.com/article/453013/wumart-buys-stake-food-retailer?utm_source=rss_feed https://www.scmp.com/article/453013/wumart-buys-stake-food-retailer?utm_source=rss_feed Wed, 21 Apr 2004 16:00:00 +0000 Jerry Chan, deputy managing director of the Hong Kong operations of British supermarket operator Tesco, says the company is shifting some of its sourcing activities from Hong Kong and China to India and Sri Lanka as a result of the Sars outbreak. 'We have no choice but to source some of our goods from other places,' Mr Chan said. He said buying agents for Tesco in Britain and continental Europe had cancelled trips to Hong Kong, cutting back business opportunities. Tesco indefinitely postponed... https://www.scmp.com/article/413391/overseas-buyers-avoiding-tesco-hk?utm_source=rss_feed https://www.scmp.com/article/413391/overseas-buyers-avoiding-tesco-hk?utm_source=rss_feed Wed, 23 Apr 2003 16:00:00 +0000 LI & FUNG is principally engaged in the export of consumer products, including textiles and fashion accessories in addition to plastics and handicrafts. Merrill Lynch upgraded the stock's intermediate recommendation from neutral to buy as the brokerage upgraded its earnings forecasts, putting it at the bullish end of the broker's range. Earnings per share were upgraded by 2 per cent to 86 cents for this year and by 18 per cent to $1.11 for next. New accounts won by the company in the past... https://www.scmp.com/article/288288/li-fung-becomes-buy?utm_source=rss_feed https://www.scmp.com/article/288288/li-fung-becomes-buy?utm_source=rss_feed Sat, 17 Jul 1999 16:00:00 +0000