TOPIC

/ company

Tesco

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.

Chairman / President

Gerry Murphy

CEO / Managing Director

Ken Murphy

CFO / Finance Director

Imran Nawaz

Industry

Retail

Website

tescoplc.com

Headquarters address

Tesco PLC,Tesco House,Shire Park,Kestrel Way,Welwyn Garden City,Hertfordshire, AL7 1GA,United Kingdom

Stock Code

LSE:TSCO

Year founded

1919

Diageo has been trimming its global holdings as falling alcohol consumption has impacted its attempts to get drinkers to trade up to pricier beverages. Photo: Reuters

Mergers & Acquisitions

Johnnie Walker maker Diageo mulls options for China assets including sale: sources

Goldman Sachs and UBS are reviewing Diageo’s operations and are sounding out interest from local strategic buyers and private equity firms.

13 Jan 2026 - 5:48PM

Britain

Attention, shoppers: UK prices hit 19-month high, fuelling inflation fears

30 Sep 2025 - 9:29AM

E-commerce

UK lawmakers summon Shein and Temu for questioning over labour practices

3 Jan 2025 - 10:06AM

Britain

UK government to ask supermarkets to cap prices of basic food items

The Telegraph newspaper reported that PM Rishi Sunak’s government is looking at plans to have retailers cap the prices of basic items such as bread and milk. Britain has western Europe’s highest rate of inflation for food.

29 May 2023 - 1:02AM

A shopper at a supermarket in London as the cost of living crisis continues to hit UK households hard. Photo: EPA-EFE

Thailand

Tesco accused of making low-wage workers do 99-hour weeks at Thai factory

In a legal claim, some 130 migrant workers alleged they were made to work up to 99 hours a week on unlawful wages and in forced labour conditions at Tesco’s Mae Sot factory in 2017-2020.

20 Dec 2022 - 8:24PM

Britain

Shoplifting soars in UK as highest inflation for decades hits price of basics

Shops in Britain have shifted to protecting unlikely items like butter, cheese and washing detergent as grocery price inflation hit a record 14.7 per cent. Shoplifting incidents are up 18 per cent.

21 Nov 2022 - 2:09PM

Malaysia

Tesco workers in Malaysia, Thailand abused, UK grocer says in report

Hundreds of workers at Tesco’s stores and distribution centres in Malaysia and Thailand say they had their passports taken, suffered illegal pay cuts or worked gruelling hours, report finds.

16 May 2020 - 8:20PM

People walk past at a Tesco Express in central London. File photo: AFP

Mergers & Acquisitions

Foreign grocers leaving Asia as e-commerce, local competition intensifies

Tesco latest foreign grocer to pull back from Asia as local rivals and e-commerce giants, such as Alibaba and JD.com, eat into sales.

12 Mar 2020 - 10:42PMvideocam

Coronavirus pandemic

CP Group secures funding for US$10.6 billion purchase of Tesco stores

CP Group secured funding to acquire Tesco’s businesses in Thailand and Malaysia, showcasing the resilience of bank liquidity in the Asian banking market even as new coronavirus batters Thai economy.

11 Mar 2020 - 11:15AM

Retailing

British retailer Tesco exits China with US$357 million stake sale

Having struggled to crack the Chinese market, Tesco established the Gain Land venture with China Resources Holdings in 2014

25 Feb 2020 - 9:10PMvideocam

A Tesco store in Qingdao city, in eastern China’s Shandong province. Photo: EPA

Human rights in China

Tesco scandal prison offers re-education, and pizza at Christmas, boss says

Inmates choose to take part and are paid for some of their work, Qingpu Prison director tells state media after a child in Britain reportedly found a message in a greeting card saying forced labour was used.

25 Dec 2019 - 3:08PMvideocam

Tesco halted production of its charity Christmas cards after Florence Widdicombe, six, found a message apparently written by an inmate. Photo: AP

Human rights in China

China denies forced labour claims after cry for help found in Christmas card

Spokesman for foreign ministry in Beijing insists story was ‘made up’ by Peter Humphrey, a Briton who spent 23 months in Chinese prisons.

24 Dec 2019 - 4:18AMvideocam

Britain

Video | UK girl finds note from ‘Chinese prisoner’

23 Dec 2019 - 4:54PM

Human rights in China

Qingpu prison: the facility at the heart of Tesco’s forced labour scandal

The authorities say detainees are offered therapy and ‘cultural exchanges’ but a newspaper said a message in a Christmas card, apparently written by an inmate, said they were forced to work against their will.

24 Dec 2019 - 5:12AMvideocam

Florence Widdicombe, six, found the message in a charity card from the British retailer. Photo: PA via AP

Human rights in China

Tesco suspends Chinese cards supplier over prison labour claims

British supermarket is investigating after newspaper report that six-year-old girl found message in card saying it was packed by Shanghai prisoners.

23 Dec 2019 - 5:32PMvideocam

Britain’s biggest retailer Tesco said it was “shocked by these allegations”. Photo: AFP

China economy

Eye on Asia | What is different about China’s latest foreign capital flight?

Trade war, rising costs and economic reforms deemed too little, too late are behind China’s latest foreign capital flights. What is different this time is that the withdrawals are part of a migration of the industrial chain out of China.

29 Jul 2019 - 6:36AM

Brexit

Top food store chiefs warn no-deal Brexit could menace UK’s food security

On eve of vote, leading retailers have written to the government announcing that no-deal Brexit could mean higher prices and empty shelves in the short-term.

29 Jan 2019 - 4:41AM

Tesco fails to see US$410m hole in first half profits

"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.

4 Oct 2014 - 4:39AM

The scandal raises doubts over the management and financial oversight at Britain’s largest private sector employer, now in the midst of the gravest crisis in its 95-year history. Photo: EPA

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.

17 Apr 2014 - 1:09AM

China Resources Enterprise

CRE confident of future Tesco profit

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 is the world's third biggest supermarket chain.

China Resources Enterprise

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

With 134 outlets, Tesco ranked eighth with a 2.4 per cent share in the mainland's hypermarket industry last year. Photo: Bloomberg

ParknShop

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 - 2:38AMvideocam

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 - 4:40AMvideocam

Tesco, the world's third-biggest retailer, is still trying to break even on the mainland, despite nine years of running supermarkets in the country. Photo: AP

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

25 May 2013 - 2:53AM

Chinese dealers strip shelves of baby milk worldwide

12 Apr 2013 - 2:36PMvideocam

Britain

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

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Tesco

Johnnie Walker maker Diageo mulls options for China assets including sale: sources

Goldman Sachs and UBS are reviewing Diageo’s operations and are sounding out interest from local strategic buyers and private equity firms.

Attention, shoppers: UK prices hit 19-month high, fuelling inflation fears

UK lawmakers summon Shein and Temu for questioning over labour practices

UK government to ask supermarkets to cap prices of basic food items

The Telegraph newspaper reported that PM Rishi Sunak’s government is looking at plans to have retailers cap the prices of basic items such as bread and milk. Britain has western Europe’s highest rate of inflation for food.

Tesco accused of making low-wage workers do 99-hour weeks at Thai factory

In a legal claim, some 130 migrant workers alleged they were made to work up to 99 hours a week on unlawful wages and in forced labour conditions at Tesco’s Mae Sot factory in 2017-2020.

Shoplifting soars in UK as highest inflation for decades hits price of basics

Shops in Britain have shifted to protecting unlikely items like butter, cheese and washing detergent as grocery price inflation hit a record 14.7 per cent. Shoplifting incidents are up 18 per cent.

Tesco workers in Malaysia, Thailand abused, UK grocer says in report

Hundreds of workers at Tesco’s stores and distribution centres in Malaysia and Thailand say they had their passports taken, suffered illegal pay cuts or worked gruelling hours, report finds.

Foreign grocers leaving Asia as e-commerce, local competition intensifies

Tesco latest foreign grocer to pull back from Asia as local rivals and e-commerce giants, such as Alibaba and JD.com, eat into sales.

CP Group secures funding for US$10.6 billion purchase of Tesco stores

CP Group secured funding to acquire Tesco’s businesses in Thailand and Malaysia, showcasing the resilience of bank liquidity in the Asian banking market even as new coronavirus batters Thai economy.

British retailer Tesco exits China with US$357 million stake sale

Having struggled to crack the Chinese market, Tesco established the Gain Land venture with China Resources Holdings in 2014

Tesco scandal prison offers re-education, and pizza at Christmas, boss says

Inmates choose to take part and are paid for some of their work, Qingpu Prison director tells state media after a child in Britain reportedly found a message in a greeting card saying forced labour was used.

China denies forced labour claims after cry for help found in Christmas card

Spokesman for foreign ministry in Beijing insists story was ‘made up’ by Peter Humphrey, a Briton who spent 23 months in Chinese prisons.

.css-rcruog{color:#C79A00;}Video | UK girl finds note from ‘Chinese prisoner’

Qingpu prison: the facility at the heart of Tesco’s forced labour scandal

The authorities say detainees are offered therapy and ‘cultural exchanges’ but a newspaper said a message in a Christmas card, apparently written by an inmate, said they were forced to work against their will.

Tesco suspends Chinese cards supplier over prison labour claims

British supermarket is investigating after newspaper report that six-year-old girl found message in card saying it was packed by Shanghai prisoners.

.css-1m2rp1p{color:#34b8b5;}Eye on Asia | What is different about China’s latest foreign capital flight?

Trade war, rising costs and economic reforms deemed too little, too late are behind China’s latest foreign capital flights. What is different this time is that the withdrawals are part of a migration of the industrial chain out of China.

Top food store chiefs warn no-deal Brexit could menace UK’s food security

On eve of vote, leading retailers have written to the government announcing that no-deal Brexit could mean higher prices and empty shelves in the short-term.

Tesco fails to see US$410m hole in first half profits

"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.

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.

CRE confident of future Tesco profit

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.

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.

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.

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.

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.

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

Chinese dealers strip shelves of baby milk worldwide

Chinese demand for baby milk causes ‘ration’ in Britain

Video | UK girl finds note from ‘Chinese prisoner’

Eye on Asia | What is different about China’s latest foreign capital flight?