Wednesday, April 7, 2010 as of 11:14 AM ET
Tesco plc () is a British multinational grocery and general merchandise retailer headquartered in Cheshunt, United Kingdom.
Read More at Wikipedia ›Tesco boss Philip Clarke has opted not to take an annual bonus of about 372,000 pounds ($588,000) following a poor performance by the world's third-biggest retailer in its main British market.
Shares in Tesco, which issued a shock profit warning in January, have lost almost a quarter of their value this year and the company is now investing about 1 billion pounds in a bid to stem a declining market share in Britain.A statement on Tesco's website on Tuesday, to coincide with the publication of the retailer's annual report, said its top 5,000 managers would receive a reduced annual bonus representing 16.9 percent of their maximum entitlement.Executive directors will receive 13.5 percent of the maximum."I decided at the beginning of the year that I would decline my annual bonus for 2012," Clarke said in a statement emailed to Reuters."I wasn't satisfied with the performance in the UK and I won't take the bonus. I'm confident that we're tackling the right issues."Clarke, a former Tesco shel...Wal-Mart Stores Inc. (WMT) investors might do well to pay more attention to Wal-Mart de Mexico SAB (WALMEX.MX, WMMVY), a high-growth emerging market play in which Wa...
Department store chain Debenhams PLC (DEB.LN) said Thursday it faces a tough consumer climate for the remainder of the year as economic conditions continue to restra...
European stock markets fell on Wednesday, pulling back from a sharp rally the prior day, with banks and oil stocks contributing to losses. The Stoxx Europe 600 index...
Tesco PLC (TSCO.LN) Wednesday said it will invest GBP1 billion in the coming year to revamp its ailing domestic operation while reducing new space opening by more th...
U.K. grocer Tesco PLC on Wednesday reported slightly higher profit for the fiscal 2012 financial year ending Feb. 25 as sales rose 6.8%, but said domestic and Centra...
Wal-Mart Stores Inc. (WMT) said Tuesday its global e-commerce division is doubling its India hiring target to 200 employees to revamp its software platform, as the U...
The following is a summary of analysts' forecasts for Tesco plc (TSCDY) full year results, based on a poll of 9 analysts conducted by Dow Jones Newswires (figures in...
Tesco PLC (TSCO.LN) is to shake up its multimillion-pound advertising strategy as it strives to win back British shoppers, the Financial Times reports Thursday, citi...
Talks between a union representing U.K. fuel-tanker drivers threatening to strike and tanker companies have resumed Tuesday, a spokesman for the union said.Members o...
U.K. fuel tanker drivers Monday overwhelmingly voted to strike, a move that could lead to gasoline shortages at filling stations across the U.K.Members of Unite, wor...
J Sainsbury PLC (SBRY.LN) warned Wednesday that the economic climate would likely remain challenging in the year ahead, but highlighted the potential boost provided ...
German retailer Metro AG (MEO.XE) Tuesday warned that earnings and sales this year will be hit by a sluggish European economy and stagnant prices, after the company ...
Discount retailers Aldi and Lidl, as well as Asda saw their market share improve in the 12 weeks ended May 13 as cash-strapped consumers sought cheaper goods to make...
Tesco PLC (TSCO.LN) Tuesday said Chief Executive Philip Clarke has declined his annual bonus following a lackluster performance from the U.K. supermarket chain last ...
Tesco PLC (TSCO.LN) is reducing the annual bonuses of about 5,000 senior store managers following a lackluster performance from the U.K. supermarket chain last year,...
A threatened strike by fuel-tanker drivers has been avoided after members of the drivers' union voted to accept a deal offering common safety standards and training,...
The U.K.'s battered high street looks set for further gloom, as a rising trend of retailers entering financial administration looks set to continue, according to KPM...
Wm Morrison Supermarkets PLC (MRW.LN) said Thursday it has made a satisfactory start to the year, but the economic climate for consumers is set to remain challenging...
U.S. authorities reported the country's first case of mad cow disease in six years, swiftly assuring consumers and global importers there was no danger of meat from ...
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