Tesco plc

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   Score: 1/20 [1]

Tesco is a British multinational groceries and general merchandise retailer, headquartered in Hertfordshire. It is the market leader in the UK, with a market share of 27.3%.May.2019 The company's operations break down as follows:

  • 79.1%: Food and non-foods: textiles, pharmaceuticals, computers, optics, household appliances, via 3,585 stores;
  • Telephony services via Tesco Mobile;
  • 19.1%: International: 2,984 European outlets, and 2,023 Asian; (Feb.2018)
  • 1.8%: Financial services via Tesco Bank: insurance, loans, savings, payment card issuance.

Inequality in Supply Chains: (2018)[2]    Transparency: 29%   Workers: 42%   Farmers: 15%   Women: 5% 

Corporate Political Engagement Rating:[3] Transparency International    B  

Company

Shareholders

Total float: 97.9%
Source: MarketScreener.svg, Mar.2020

Structure

ToDo: link, Potted history: link, go through Asda, Sainsbury's, etc., etc., while doing the timeline., T'graph, Times, Brands

Plastic Packaging

  • May.23.2018: Tesco steps up war on plastic with packaging ban. Tesco said it was committed to reducing the total amount of packaging used across its business. Tesco has told suppliers it will ban all packaging unsuitable for recycling as from next year. The UK’s biggest retailer is planning to move to a “closed loop” system, which will include a cull or redesign of a raft of different types of packaging currently commonplace on supermarket shelves. Products Tesco will ban include PVC, polystyrene, oxo-degradable materials, PLA (Polylactic acid), water soluble bioplastics and industrial compostable materials. The retailer said it was also consulting on other materials that could either be developed as part of the closed loop or be culled from the business. These include cellulose and NatureFlex, oriented polypropylene, black plastic, polypropylene and complex laminates. Tesco has published a list of products it would support including sustainably sourced wood, board, paper and glassine, PET, glass, polypropylene (non-food), HDPE & LDPE, polyethylene (its preferred material for flexible film), steel and aluminium. Tarry said the retailer wanted to work with the supply chain and the govt to improve recovery and recycling and boost the national recycling infrastructure. He called on ministers to do more to provide a consistent recycling infrastructure. “We will work with our suppliers to redesign and reduce all packaging materials and after consultation with our leading suppliers earlier this year we will remove all packaging that is hard to recycle from our business by 2019. In January it revealed its support for a deposit return system in the UK and said it was working with suppliers to develop a way for it to be rolled out “at scale”. In March, Tesco joined forces with companies including Coca-Cola, Co-op and Heineken to draw up proposals to offer local authorities a new market for the recycling of bottles, which they believe could prevent thousands of tonnes of plastic bottles going to landfill. The Grocer.
  • Jan.14.2018: What are supermarkets doing to fight plastic? Plastic waste is "one of the great environmental scourges of our time". These are the words of Prime Minister Theresa May, who has pledged to ban all avoidable plastic waste in the UK by 2042. Despite extending the 5p charge on single-use plastic bags, major retailers in England still sold 2.1bn in the last financial year. But organisations like Greenpeace UK are sceptical about the plan, citing Mrs May's "vague aspirations". So what are Britain's 10 biggest supermarkets doing to combat the "scourge" of plastic? By 2025, Tesco wants all its packaging to be recyclable or compostable and its total packaging weight to be halved compared to 2007. It has removed all polystyrene from its fish packaging, and claims that more than 78% of its packaging is recyclable, though this depends on the type of material accepted by local authorities. Replacing two-layer plastic trays with single layer plastic has also helped them to remove 92 tonnes of plastic. BBC News.

Timelines

  • Mar.2018:
    Booker-Group-1990.svgDeals-Arrow-Left.svg
    #Booker Group Ltd, the UK's largest cash-and-carry operator with 172 stores, was acquired.ref,ref,ref
  • Oct.2002: T&S Stores, a Walsall-based convenience shop chain with 870 stores, was acquired.ref Subsequently, 450 of the T&S outlets were converted into Tesco Express convenience shops. Subsequently rebranded as "One Stop Stores Ltd".ref One Stop
    • Day & Nite Stores, based in Preston, acquired.
      • Heagney-Stores.svgDeals-Arrow-Left.svg
        Heagney Stores, Anthony Heagney Ltd,HeagneysArchive-org-sm.svg acquired by Day & Nite Stores in 1999. ref
  • Sept.1994:
    William-Low-1980s-horiz.svgDeals-Arrow-Left.svg
    William Low & Company plc was acquired after a bidding war with Sainsburys. Tesco gained 45 stores in Scotland and 12 in northern England, becoming the UK's leading retailer. The Low stores were subsequently converted to Tesco's banner, ending Low's 168-year presence in Scotland.[4][5][6]
  • 1987: Hillards plc was acquired. Started life as Lion Stores in Liversedge, a family business that opened stores all over Kirklees. Their biggest venture was a store at Viaduct Street in Huddersfield, built after much opposition from town centre traders in 1978 and taken over by Tesco in 1986. link, link, piclink, piclink
  • Apr.1986: Tesco Stores Ireland was sold to H Williams and Company, a Dublin-based supermarket group.ref
  • Feb.1986:
    Victor-Value.svgDeals-Arrow-Right.svg
    Victor Value: the remaining 45 outlets of discount grocery stores were sold to Bejam Group plc.AR-Jun.1986
  • 1986: bought out rival Hillards chain.
  • 1979: Cartier's Superfoods, a 17-outlet Kent-based supermarket chain, was acquired to increase its overall sales volume through larger stores.ref
  • 1968:
    Victor-Value.svgDeals-Arrow-Left.svg
    Victor Value, a London-based 217-store "value" supermarket group operating at the lower end of the grocery trade, was acquired, with a view to its property portfolio.[7] Tesco converted many of the larger branches to their own brand.
  • 1950: Tesco went public.
  • 1919: Founded by eastender Jack Cohen.
ToDo: link, link, link, link, link, link, link
ToDo: UK Food Retailing 1980-2002.[8], "Shopped", 2005, link, link, link, link, link, TescoCorporate.comArchive-org-sm.svg, TescoPlc.comArchive-org-sm.svg, Tesco.comArchive-org-sm.svg, TescoEnergy.comArchive-org-sm.svg

Booker Group Ltd

Booker-Group-1990.svg
Booker Cash & Carry, a long-established British company, had its origins in the sugar trade from the West Indies and progressively diversified into a range of food manufacturing and wholesaling activities. Following financial difficulties in the late 1990s, the company was radically slimmed down and focused on its core activity of UK cash and carry, plus some in India.ref It had a 33% market share of the wholesale market through its 177 branches. Booker also had 1,200+ affiliated retailers participating in its Premier symbol group. Booker.co.uk, Booker.co.ukArchive-org-sm.svg, BookerGroup.comArchive-org-sm.svg, BookerGroup.com (Reports)Archive-org-sm.svg

ToDo: CH-00197380 WebsiteArchive-org-sm.svg,

Booker Group plc


ToDo: Big Food Group AR-2002, Big Food Group AR-2004, Booker Wholesale Holdings Ltd
  • Mar.2018: Tesco plc took over the Booker Group plc,ref,ref and delisted it from the London Stock Exchange.AR-Mar.2018
  • Sept.2015: #Londis and Budgens Stores Ltd grocery chains were purchased from Irish food wholesaler Musgrave Group Ltd/Musgrave Retail Partners GB Ltd, CMA approval granted.ref Booker GroupWikipedia-W.svg todo, todo, todo
  • Feb.2014: Giant Topco Ltd changed its name to Booker Wholesale Holdings Ltd. https://beta.companieshouse.gov.uk/company/05137980
  • Jul.2012: Makro Holding Ltd was acquired from Metro AG. Competition Commission clearance was received in Apr.2013. Booker will stay a “trade only” business and Makro will continue to serve the trade and small companies. two subsidiaries: Makro Properties Limited and Makro Self Service Wholesalers Limited. ref, todo
  • May.2012: teamed up with Makro AG. link
  • May.2012: Metro Group sold Makro Cash & Carry's 30 UK stores, together with all assets, were bought from Metro Group, in return for 9.99% of Booker's share capital, plus cash. The Competition Commission cleared the transaction in Apr.2013.ref AR-2015
  • Oct.2010: Ritter Courivaud Ltd, a wholesale business catering for restaurants in the UK, was acquired.ref https://rittercourivaud.co.uk/, ch-00363411
  • Oct.2010: Classic Drinks Ltd, a wholesaler of beer, spirits and soft drinks to pubs and licensed premises, was acquired.ref, [1]
  • Sept.2009: India: Booker opened a store in Mumbai, with plans to expand across India.ref
  • Jun.2008: Baugur sold all its holdings in Booker Cash & Carry,ref shortly after its founder was found guilty of accounting irregularities.ref Baugur collapsed in Feb.2009, amidst the Icelandic financial crisis.ref
  • Jun.2007: Booker Group plc: post-acquisition, Blueheath Holdings plc changed its name.AR-Mar.2007
  • Jun.2007: Booker Group plc: #Blueheath Holdings plc acquired the Big Food Group in a reverse takeover, with Blueheath Holdings plc changing its name to Booker Group plc.[9],AR-Mar.2007 OpenCorporates-sm.svg
  • Dec.2004: Booker Group Ltd: Big Food Group was purchased by acquisitive Icelandic group, Baugur,ref which split Booker and Iceland into different companies again.ref
  • Jun.2004: Booker Group plc incorporated. 05145685
  • Jun.2000: Big Food Group, Iceland Supermarkets' vehicle,ref acquired Booker plc, by then the UK's largest cash and carry operatord.AR-Mar.2001
  • Jan.1999: Booker announced its catering supply division would be sold off to raise much-needed assets. It is also proceeding with the sale of its Arbor Acres, Marine Harvest McConnell, Booker Wholesale Foods and Fletcher Smith units.
  • Nov.1996: Nurdin & Peacock plc, a convenience store operator with cash and carry stores, was acquired. Although the acquisition placed Booker as the leading cash-and-carry business in the UK, serious financial problems followed.[10]

Owned the "Happy Shopper" brand.ref,pic-link,pic-link Happy ShopperWikipedia-W.svg

  • Sept.1990: #Fitch Lovell plc, a British food manufacturing, transportation, distribution and retail company, was acquired and subsequently hived up. Booker Food Services was merged with Fitch & Son during 1991, and relaunched as Booker Fitch Food Services.[AR-Dec.1990], ref
  • Nov.1986: CR Hargreaves & Sons Ltd, business was acquired, trade transferred into the Booker Food Service depot at Blackburn in 1988.[AR-Dec.1987]
  • Oct.1987: Copeman Ridley Ltd, an East Anglia wholesaler, was acquired and hived up during 1988.[AR-Dec.1987]
  • 1987: Linfood, a wholesaling operation, was purchased from the Dee Corporation.
  • 1971-1978:
    ToDo: Happy Shopper franchise.
    piclink
  • ToDo: Premier Stores Ltd
    Premier StoresWikipedia-W.svg
  • ToDo: Euro Shopper
    Euro ShopperWikipedia-W.svg
  • 1978: Booker McConnell Ltd: over time, the company re-focused on wholesale food distribution, moving entirely away from shipping.ref,p.16
  • ?dates?: Booker Line ships operated the sugar industry in British Guiana (later "Guyana"), until nationalisation ~1970. At its peak, it controlled 75% of the British Guiana sugar industry.ref
  • 1835: Booker Line Ltd was established by George and Richard Booker when they bought their first ship, transporting foods.ref,p.2


Booker Wholesale Holdings Ltd.

From CH-00197380; UP was Booker plc.

  • AR-Mar.2018: in Mar.2018, merger with Tesco plc. Booker Group plc was delisted from the London Stock Exchange.
  • AR-Mar.2012: acquired Shorters Club Ltd.
  • Oct.2008: AC Ward & Son Ltd, and CTM Wholesale Ltd, fellow subsidiaries of Booker Group plc, the trade and assets were acquired.[AR-Mar.2009]
  • AR-Mar.2008: in Jun.2007 Blueheath Holdings plc became the legal parent of Giant Topco Ltd. Blueheath Holdings plc was renamed as Booker Group plc. Started trading on the AIM.
  • AR-Mar.2007:in May.2007, Blueheath Holdings plc agreed to acquire Giant Topco Ltd, the acquisition was treated as a reverse takeover.
  • AR-Mar.2006: Giant Topco Ltd disposed of Iceland Foods Ltd in Feb.2005, and Woodward Foodservice Ltd in Aug.2005, leaving Booker Ltd as the sole trading entity in the group.
  • Jun.2005: Booker Ltd: changed its name. following its acquisition of the Big Food Group in Feb.2005, Giant Topco Ltd became the UP.[AR-Apr.2005]
  • AR-Mar.2002: UP = The Big Food Group plc. After yr end, entered into sale + leaseback for 13 properties with Axa Sun Life plc.
  • ?date?: Malt House Vintners Ltd acqd. subsequently renamed as The Food Warehouse Ltd. OC
  • Jun.2000: acquired by Iceland Group plc. [AR-Mar.2000]
  • Mar.2000: Booker Cash & Carry Ltd: changed its name. [AR-Mar.2000]
  • Jul.1999: Booker Aquaculture Ltd sold to Nutreco Holdings NV.[AR-Mar.1999],todo
  • Nov.1996: Nurdin & Peacock LtdOpenCorporates-sm.svg (plc?) + Nurdin & Peacock Cash & Carry LtdOpenCorporates-sm.svg acquired, operated a chain of 55 cash-and-carrys in the UK.[AR-Dec.1996] Hived up into Booker Cash & Carry Ltd in Mar.2000.[AR-Mar.2000] todo
  • AR-Dec.1995: acquired 3 "Mojo" cash+carry units from Palmer & Harvey McLane.
  • AR-Dec.1994: Marine Harvest Ltd, salmon farming in Scotland, acquired. renamed as Booker Aquaculture Ltd. OC, https://mowiscotland.co.uk/
  • AR-Dec.1989: The Danish Bacon Company's grocery sales to Mace retailers in Devon and Cornwall were taken over towards the end of the year. Booker Wholesale Foods acquired Castle Frozen Foods in Kent, + Freshline Holdings Ltd+Freshline Frozen Foods Ltd of Sheffield OC.
  • Nov.1988: County Catering Company Ltd, a foodservice wholesaler in Humberside, was acquired and hived up.[AR-Dec.1988]
  • Jul.1988: Linfood Cash & Carry business was acquired from the Gateway Corporation plc and was hived up. The acquisition more than doubled Booker's Cash & Carry operation.[AR-Dec.1988]
  • Apr.1988: Brewhurst Health Food Supplies Ltd business was acquired from another Booker subsidiary. Brewhurst was a UK wholesale distributor to the independent health food trade.[AR-Dec.1988] The company changed its name in Feb.1993 to Belmont Seven Ltd. The business was sold in 1992(?).[AR-Dec.1992]
  • Jan.1988: J Evershed & Sons Ltd was acquired and hived up.[AR-Dec.1988]
  • AR-Dec.1986: in Jul.1986 sold Budgen to Barker & Dobson Group plc. Earlier in the year, acquired the warehouses and cash-and-carry trade of H&W (Cash and Carry) at Bristol and Clevedon, and AG Wright & Company Ltd at Holt. Also acquired McNab Groceries Ltd, a 7-depot cash-and-carry business in Scotland, hived up in Dec.1986. The delivered wholesale operations to retailers in Scotland the North East and the North West were sold in the year to ??
  • AR-Dec.1985: acquired 13 warehouses from Fitch Lovell. acq'd the delivered catering business of Amalgamated Foods Ltd, and the cash-and-carry business McNab Groceries Ltd in Scotland.
  • AR-Dec.1984: Sold 4 specialist confectionery and tobacco depots at the end of the year.
  • Sept.2009: opened 1st branch in Mumbai, India.Prelim.2010
  • AR-Dec.1981: hived up several subsids.
  • acquired wholesale businesses from Alliance Wholesale Grocers Ltd, and Baars (Wholesale) Ltd, and the business of William Evans & Company Ltd.[AR-Dec.1978]
  • Nov.1977: acquired the business of two former Oriel Foods Ltd subsids, William Kingham & Sons Ltd, and Thomas Robinson Sons & Company Ltd.
  • Aug.1977: acquired from Oriel Foods Ltd the wholesale business of Morris & Jones.
  • Jul.1977: Booker Belmont Wholesale Ltd: changed its name. ultimate holdco = Booker McConnell Ltd.
  • Jun.1977: acquired the wholesale business of its parent company Kinlock (Provision Merchants) Ltd and its subsidiary Booker Belmont Ltd.
  • Apr.1924: Charles Arkcoll Ltd incorporated, wholesale grocers. [ch-00197380]

Blueheath Holdings plc

Blueheath-Holdings.svg
  • Jun.2007: The Big Food Group was acquired by Blueheath Holdings plc in a reverse takeover, with consortium Giant Topco Ltd's shareholders becoming majority shareholders (90.36%).
  • Apr.2005: CTM Wholesale Ltd, a Wrexham-based delivered wholesale business to the grocery wholesale market with a small cash and carry operation, was acquired.ref,[AR-Feb.2005]
  • Jul.2004: Blueheath Holdings plc was floated on the AIM, with infamous venture capital firm Evolution Beeson Gregory LtdWikipedia-W.svg acting as broker.refArchive-org-sm.svg,refArchive-org-sm.svg OpenCorporates-sm.svg
  • Apr.2001: Blue Heath Direct Ltd commenced trading, after securing venture capital funding.ref OpenCorporates-sm.svg
  • May.2000: Direct2Shop.com Ltd was formed principally by Doug GurrWikipedia-W.svg, joined by Chris PhilpWikipedia-W.svg. The core idea was to wholesale groceries to convenience stores via the internet, without actually holding any stock.refArchive-org-sm.svg A proprietary IT system was developed, which used a proprietary stock predication algorithm which anticipated retailers' stock requirements and then ordering from suppliers on a ‘just in time’ basis.refArchive-org-sm.svg Direct2Shop.comArchive-org-sm.svg

Londis

Londis-2009.svg
Londis' retailer network has ~2,200 stores and forecourt shops throughout England, Scotland and Wales. Londis is part of a symbol groupWikipedia-W.svg, meaning it neither owns nor operates shops, but instead acts as a supplier to independent shops, which then trade under its common banner. Londis has 1,900+ members across the UK.ref,Apr.2020 Londis (Holdings) Ltd is owned and operated by Booker Retail Partners (GB) Ltd, itself wholly-owned by Tesco plc.
  • Sept.2015: #Booker Group plc acquired Musgrave Retail Partners (GB) Ltd, the holdco for Londis and Budgens, from the Musgrave Group, subject to regulatory approval.ref.
  • Jun.2004:
    Musgrave-Group.svgDeals-All-Change.svg
    Musgrave Group plc, an Irish wholesale chain and owner of the Budgens convenience store group, purchased Londis (Holdings) Ltd,OpenCorporates-sm.svg with each stake-holding retailer receiving a payment.ref,ref,ref Post-acquisition, the integration of Londis and Budgens commenced. refArchive-org-sm.svg
  • AR-Jan.1989: Londis Acquisitions (1986) Ltd = ??
  • 1970: ADM Londis: Allied Dublin Merchants Ltd, an Irish co-operative, acquired the use of the Londis franchise for Ireland.refArchive-org-sm.svg
  • Oct.1959: Londis Grovisions Ltd (sp?) was established by Kevin Stanley Adams as a communally-owned company, with each retailer owning a share in the parent company.refArchive-org-sm.svg The company purchased groceries and provisions in bulk to sell to its members. The name "Londis" was a contraction of "London District Stores".ref OpenCorporates-sm.svg
  • 1959:
    Londis-1959.svg
    The Londis brand first appeared over John Leach's Swifts Stores in Richmond, London.ref

Fitch Lovell plc

  • 1990: Fitch Lovell plc, a British food manufacturing, transportation, distribution and retail company, was acquired by the Booker Group, and subsequently hived up.ref
  • 1960s: Key Markets: Fitch Lovell opened its own supermarket chain as they saw this as the future of food retailing, opening many stores in the south and east of England. They expanded by acquisition of several rivals.
  • 1972: David Greig chain acquired.
  • 1965: Barrow Stores, based in Birmingham, founded by John Cadbury in 1824, was acquired; hived up into Key Markets in 1966.

Budgens Stores Ltd

Budgens.co.uk, Budgens.co.ukArchive-org-sm.svg, MusgraveGroup.com, Musgrave.ie, OpenCorporates-sm.svg

ToDo: logos, link, CH

  • Mar.2018: Tesco plc took over the Booker Group plc.ref,ref,ref,todo
  • Sept.2015: #Booker Group plc purchased Londis's 1,630 convenience stores, and Budgens Stores Ltd's 167 franchise outlets, from Musgrave Group Ltd, subject to regulatory approval.[11][12]
  • May.2004: Musgrave announced that it was moving the Budgens store chain to a franchise-only operation.[13][14]
  • 2004-2007: Musgrave divested the non-franchised Budgens stores, selling some on the open market, others to independent retailers, and franchising the remainder.[13]
  • Jun.2002: Musgrave Retail Partners GB Ltd, the UK arm of the Irish food wholesaler, purchased the outstanding shares in the company which it did not already own.[15]
  • Dec.2000: LC Seward & Sons Ltd: a majority stake of 67% was acquired in the small supermarket chain, with the remaining 33% purchased in Mar.2001.AR-Apr.2001,[16]
  • 2000:
    Musgrave-Group.svgDeals-All-Change.svg
    Musgrave Group, Ireland's largest privately-held retailer, purchased an effective 43.5% stake in Budgens from German retailer ReWe.[17]
  • 1998: Teleshop Services, a home-shopping group, was acquired to be the foundation for a Budgens home delivery service.[18] The concept was abandoned in 200, after heavy competition from Tesco et al.
  • Oct.1997: 7-Eleven, a 55-outlet chain in the UK owned by Bermuda-registered company Jardine Matheson Holdings Ltd, was acquired. Initially re-branded as "B2", the chain was eventually rebadged as "Budgens".[19]
  • 1994: Budgens re-focused on convenience stores, adding 10 new supermarkets, and moving into the service station forecourt market.
  • 1992: REWE, the German retail group, purchased ~26% of Budgens' stock, plus an option to increase its holding up to 46%. The deal was based on Budgens' importing REWE's very successful Penny Market discount retail format into the UK. After converting ~10% of its stores, the Penny Market rollout was abandoned in 1995, and rebranded under the "Freshsave" banner.
  • 1992: Gilsons The Bakers Ltd,OpenCorporates-sm.svg a supplier of fresh baked goods to retailers, was acquired.
  • 1988: Budgens plc: Barker & Dobson sold its confectionery arm, including the Barker & Dobson name, to Scotland's Alma Caledonia Ltd.OpenCorporates-sm.svg Following that transaction, the company renamed itself Budgens plc.OpenCorporates-sm.svg
  • 1986: Barker & Dobson plc, the UK confectionery manufacturer, bought the Budgens business from Booker, McConnell. Barker & Dobson had fallen on hard times, and decided to concentrate the company's growth efforts on its supermarket operation.
  • 1957: Booker, McConnell & Company acquired majority control of Albert Button & Sons.
  • ?date?: Albert Button & Sons took over Budgens.
  • 1896: Budgen & Company Ltd: Budgens was formally incorporated.
  • 1872: John Budgen opened his first shop in Maidenhead.
Additional Sources: Budgens Ltd Company Histories. Accessed Apr.10.2019.

Articles

  • Nov.15.2018: Tesco and WWF to 'halve environmental impact' of UK groceries. UK’s largest retailer falls short of removing palm oil from own-brand foods in sustainability drive. Tesco and WWF have announced they are to collaborate on a long-running sustainable food effort, pledging to halve the environmental impact of the average UK shopping basket within 12 months. Details of the new partnership come as new research by the two organisations reveals that demand for sustainable food is high, with nearly 80% of shoppers wanting supermarkets to offer more food that is sourced in a responsible, sustainable way. Rebecca Smithers, The Guardian.
  • Jul.03.2018: Tesco Announces Its Plan for Zero Deforestation Soy. Forests are the lungs of our planet. But these forests are under pressure as a result of human population growth (7.6 billion today and expected to reach 9.6 billion by 2050). In response to this challenge, members of the Consumer Goods Forum (CGF), including Tesco, have committed to achieving zero-net deforestation in our sourcing of agricultural raw materials, by 2020. For Tesco, the most important of these raw materials is soy. Soy is a key ingredient in animal feed. As the global demand for meat increases, so does the demand for soy. Industry, civil society and govts must work together to ensure that soy expansion occurs only on existing agricultural land. Our ambition is that all soy used as animal feed in our UK supply chain is sourced from areas which are verified as zero deforestation. Our transition plan roll-out will start in 2018/19 with the animal proteins that require the most soy (e.g. whole chicken and pork products). Daniel Salter, Tesco, Consumer Goods Forum.
  • Jun.01.2018: Supermarket ban on hats falls flat. A man about to do his shopping was ejected from a Tesco store for refusing to take off his flat cap. Graham Cattermole was told to remove his hat by a security guard after he entered a Tesco Express with his wife Christine, 61. He refused and left the supermarket. “Then a security guard came up to us and said, ‘Sorry, you’re going to have to take your hat off or you can’t come in.’ I thought, how stupid can you be? If I had a crash helmet on or I was wearing a hoodie and looked like a hooligan, I could understand but I’m nearly 65 and I’ve got a walking stick — it’s not like I’m going to hold the place up. The Times.
  • May.22.2018: Tesco drops ‘best before’ labels on fruit. Tesco became the first big supermarket to remove the “best before” date guidance from products in an effort to cut food waste. The store said that it would review customer feedback on the change and, if it proved popular, it would expand the policy to other products, meaning that dates could disappear from tinned fruit and vegetables, packets of cereal, dried foods, biscuits and crisps. Research suggests that more than 200,000 tonnes of food is thrown away every year because people mistakenly believe that they cannot eat it after its “best before” date. Unlike “use by” dates, which are provided for safety reasons on products such as meat and fish, “best before” dates are an indicator of quality and tend to be set cautiously, meaning that there is often little deterioration for weeks or even months after the date shown. Each year the average family throws away food worth more than £700, with 7m tonnes of avoidable food waste, including almost 200m bananas, going to landfill every year, according to Wrap, the anti-waste charity. Tesco’s decision to move away from “best before” dates follows intense lobbying by the Women's Institute. Sainsbury's, Asda, Morrisons and Waitrose declined to say whether they were looking at taking similar action. The Food Standards Agency said: “The best before date, sometimes shown as BBE, is about quality and not safety. The food will be safe to eat after this date but may not be at its best.” Earlier this month Co-Op announced plans to give all food not sold by its “best before” date to charity. Andrew Ellson, The Times.
  • May.22.2018: Tesco shuts its online non-food website, Tesco Direct. Tesco is shutting down its clothing and homewares website Tesco Direct in a surprise move that puts 500 jobs at risk. Staff were briefed on Tuesday afternoon about the decision to close the loss-making website which was the supermarket giant’s attempt to take on Argos and Amazon by selling everything from sofas to TVs and toys. Tesco Direct was one of the many pushes launched during the expansionist reign of Terry Leahy in which the retailer became a jack of all trades, with side projects that included building flats, running a bank as well as selling groceries, clothing and household goods online. Current boss Dave Lewis, who took charge in the wake of the 2014 accounting scandal, has led a radical restructuring of the UK’s biggest retailer. He sold a number of businesses, including its South Korean chain Homeplus for £4bn, and pushed through a programme of large-scale domestic job losses. Last year Lewis did his first major deal with the purchase of the Booker cash and carry chain, led by Wilson, for £3.7bn. The complexity of bashing together the two businesses, which have combined turnover of nearly £60bn, means the loss-making Direct business was a headache neither executive needed. “I think this shows a renewed focus on the machine that is Tesco,” said Steve Dresser, retail analyst at Grocery Insight. (Check out links in article) Zoe Wood, The Guardian.
  • Mar.06.2018: After the ‘usual chaos’, an unusual rapprochement. Tesco's £4bn takeover of Booker Group has formally been completed. Few will be more pleased than Charles Wilson, the Booker boss, not least because he is one of the new group’s largest shareholders and will run the combined Tesco and Booker UK operations. Dominic Walsh, The Times.
  • Feb.24.2018: Tesco boss to face down the Booker rebels. Dave Lewis, chief executive of Tesco, and Charles Wilson, chief executive of Booker, are two key shareholders who say that the Tesco-Booker combination would create "long-term value". Dave Lewis, former Unilever executive, has taken £7bn in exceptional writedowns, has closed stores, sold business divisions, made thousands of people redundant and paid a £129m fine to the Serious Fraud Office as part of a deferred prosecution agreement that followed an accountancy scandal. All were part of a grand plan to revive Tesco’s British business, as was a surprise £3.7bn swoop on Booker Group, the cash-and-carry wholesaler, last January. Institutional Shareholder Services and Glass Lewis, giant investor advisory providers, have told Booker shareholders to vote against the deal. If they do, it will dash Mr Lewis’s dream of dominating Britain’s £200bn “in home” and “out of home” food market and will derail plans for Charles Wilson, the highly regarded boss of Booker, to take over the running of Tesco’s British business. Yesterday, the chances of the deal being approved were boosted when Invesco Perpetual and Investec Asset Management said that they would vote in favour. The two, both top 20 shareholders in Booker, said that the Tesco-Booker combination would create "long-term value" and that it was "right thing to back Charles Wilson". Deirdre Hipwell, The Times.
  • Feb.07.2018: Tesco fraud trial abandoned after defendant has heart attack. The trial of three former Tesco executives accused of fraud has been abandoned after one of the defendants suffered a heart attack. Carl Rogberg, Tesco’s former UK finance director, Christopher Bush, former head of Tesco UK, and John Scouler, former commercial food director, were all charged with fraud by abuse of position and by false accounting and have been on trial at Southwark crown court since Sept.29. The Serious Fraud Office claimed that the three men had inflated Tesco’s 2014 interim profit forecast by “pulling forward” or improperly recognising income from suppliers. It alleged the trio were "generals" who had manipulated accounts, bullied subordinates to falsify figures and lied to auditors. Deirdre Hipwell, The Times.
  • Jan.22.2018: Up to 1,700 workers face redundancy as Tesco ‘simplifies’ operations. Tesco has announced it is cutting 1,700 jobs under plans to “simplify” its operational structures. The 1,700 people whose jobs are at risk will be able to apply for 900 new roles Tesco has created across its distribution centres and stores. They will be supported to find alternative roles “whenever possible”. The overall effect will be the loss of 800 jobs. Tesco has announced two other major job cuts in the past year. In Apr.2017 it cut 3,000 jobs when it cancelled 24-hour opening in 69 stores. In June 1,200 jobs were cut from its head office in Welwyn Garden City. Pascale Hughes, The iNews.
  • Sept.22.2014: Tesco suspends senior staff and starts investigation into overstated profits. UK’s biggest supermarket chain delays half-yearly results after admitting first-half profits were overestimated by £250m. (A whistleblower revealed that Tesco had exaggerated its half-yearly profits by £250m, increasing the figure by ~33%. An accounting fiddle on this scale clearly had roots at a senior managerial level. Sure enough, 4 senior executives were suspended the same month, and 3 were charged with fraud 2 years later.) Sean Farrell, The Guardian.
  • Jan.14.2012: Tesco boss sold off £200,000 of shares days before value plunged. Chief operating officer Noel Robbins would have been £40,000 worse off if he'd sold shares after the share price dropped. Another executive, Ken Towle, sold £155,000 of shares shortly before Christmas - he would be £28,000 worse off if he sold them today. The Mail Online.

Earlier

  • Aug.12.2013: UK Retailer Tesco gives up on cracking China alone after 9 years. After nine years in China, British supermarket firm Tesco is to fold its unprofitable operation into a state-run company as a minority partner, becoming the latest foreign retailer to give up on trying to crack China on its own. Michael Cole, Mingtiandi.
  • May.15.2009: Tesco's fruit pickers in South Africa. The supermarket giant stands accused of not paying workers at its farms a living wage, with many of them asking why they have to struggle when the company makes billions in profit . Photographs The Guardian.

References

  1. ^ Five unethical companies. All these companies score poorly across our rating system for failing to address issues including human rights, animal rights and environmental concerns. Amazon, ASDA WalMart, Nestle, Tesco, Coca Cola. The top ten least ethical companies as voted for by Ethical Consumer readers were: Nestlé, Monsanto, Amazon, Shell, Tesco, Barclays, Exxon, Wal Mart, Coca Cola, Primark. Tim Hunt, Ethical Consumer, May.18.2018.
  2. ^ Ripe for Change. Oxfam launches a new campaign to expose the root causes behind human suffering in food supply chains, and to mobilize the power of people around the world to help end it, starting with a focus on the role of supermarkets. The Supermarkets Scorecard is on page 24. Robin Willoughby, Tim Gore, Oxfam International, Jun.21.2018.
  3. ^ Corporate Political Engagement Index 2018. The new index of 104 multi-national companies, many of whom regularly meet with govt, has found nearly 75% are failing to adequately disclose how they engage with politicians. Only one company received the highest grade, with the average grade being "E" – representing poor standards in transparency. Transparency International UK, Nov.2018.
  4. ^ Annual Report 1995 Tesco plc, Feb.1995. Original archived
  5. ^ Tesco deals for Scottish food chain. James Fallon, Supermarket News, Aug.01.1994.
  6. ^ Tesco outbids Sainsbury for Scotland's Low chain. Katy Stanlake, Supermarket News, Aug.08.1994.
  7. ^ "Trolley wars : the battle of the supermarkets.", Judi Bevan, Profile Books, London, Jul.30.2005, ISBN: 978-1861976611
  8. ^ Corporate Strategy in UK Food Retailing, 1980-2002. Geoffrey Owen, London School of Economics, Institute of Management, Feb.2003. - Background paper by Geoffrey Owen.pdf Original archived
  9. ^ Blueheath in Booker reverse takeover. The Grocer, May.09.2007.
  10. ^ Cash-and-carry job cuts. BBC News, Jan.14.1999.
  11. ^ Booker Group to buy Budgens and Londis. BBC News, May.21.2015.
  12. ^ Booker Group completes £40m acquisition of Londis and Budgens. Retail Week, Sept.14.2015.
  13. ^ a b Musgrave to sell 172 UK Budgen stores to franchisees. Barry O'Halloran, Irish Times, Apr.09.2004.
  14. ^ All stores in Budgens chain to be franchises. Rosie Murray-West, The Telegraph, Apr.09.2004.
  15. ^ Musgrave buys Budgens for £232m. Mark Tran, The Guardian, Jun.21.2002.
  16. ^ Store expansion: Four more for Budgens. The Grocer, Jan.06.2001.
  17. ^ Musgrave group sells off its British operation for £40m. Belfast Telegraph, May.21.2015.
  18. ^ Investment: Budgens serves up 10% profit rise. The Independent, Jan.19.1999.
  19. ^ Budgens rebrands b2 stores. Marketing Week, Jun.18.1998. Original archived on May.20.2016.