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Retail Asia21/12/2022

A group of 130 former employees at VK Garment Factory in Thailand are suing the supermarket and auditing specialists Intertek. The workers, represented by law firm Leigh Day in the UK, claimed that they were paid up to £4 a day, working seven days a week, and “trapped in a cycle of forced labour and […]

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Retail Asia29/06/2022

After Brexit became a reality, UK mobile operators were quick to promise that roaming charges for calls and data from within EU countries will not make a return. But, after the EU Trade Deal was finalized in 2021, it seems things changed. EE was first to cave and reintroduced EU roaming charges for its customers. Three, […]

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Retail Asia19/10/2021

Tesco has become the latest retailer to open a checkout-free store in the UK. Replacing traditional tills with high-tech cameras, weight sensors, and a mobile app, the supermarket giant is launching its first high street store trial, called GetGo, in London on Tuesday. Tesco said it was aiming to “improve the shopping experience” and save customers’ […]

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Retail Asia11/12/2020

Tesco announced it has met all conditions for the £8bn ($10.8bn) sale of its businesses in Thailand and Malaysia, which means its shareholders can soon expect a £5bn payout. Selling around 2,000 stores in Thailand and 74 in Malaysia to Thai conglomerate CP Group is the last stage of the supermarket giant’s exit from Asia. “Tesco […]

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Retail Asia10/11/2020

Thailand’s competition regulator has given the nod for British retail giant Tesco to sell its supermarket businesses to the Charoen Pokphand Group, despite monopoly concerns. The $10.6 billion sale to Thailand’s biggest conglomerate was first flagged in March and also covers Tesco’s operations in Malaysia. “The majority of commissioners agreed that the merger of those […]

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Retail Asia20/07/2020

British grocery retailer Tesco and Indian conglomerate Tata have invested another US$8.9 million into their joint venture Trent Hypermarket. The move marks the first major capital investment in the business by the partners in two years, and comes on the heels of the appointment of new CEO Martin Bailie. While revenues expanded 22.5 percent to […]

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Retail Asia10/04/2020

Tesco’s Asian business achieved a 33.5-per-cent increase in operating profit last year, the last full trading year before it is sold to Thailand’s Charoen Pokphand group. In results released overnight, Tesco reported a profit of £426 million, and a margin of 8.2 percent in Asia, on sales of £5.2 billion, up 6.7 percent on actual […]

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Retail Asia11/03/2020

Tesco has accepted a US$10.6 billion bid for its Asian businesses from a consortium of companies controlled by Thai billionaire Dhanin Chearavanont. The deal, which remains subject to regulatory approval and Tesco Group shareholder approval, will be completed in the second half of this year. The price represents an earnings multiple of 12.5 times and […]

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Retail Asia03/03/2020

Tesco executives and advisors will this week start evaluating offers for its Thai and Malaysian businesses following Friday’s deadline for binding offers. However, with the asset valued somewhere in the region of US$9 billion, there is no certainty any of the bids will be accepted. A decision is expected this month. Tesco has yet to […]

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Retail Asia27/02/2020

British multinational groceries and general merchandise retailer Tesco has sold its shares in a Chinese joint venture, ending its operations in the country. According to Retail Gazette, the firm’s 20-per-cent shareholding in the Gain Land business has now been sold to a unit of its regional partner, Chinese state-owned conglomerate China Resources Holdings (CRH). The […]

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Retail Asia13/01/2020

Thai oil company PTT is said to be preparing to make a bid for the Tesco Asia businesses in Malaysia and Thailand. The firm’s retail unit, which also owns the rapidly growing Cafe Amazon chain, will join local retailer Central Group and conglomerate Charoen Pokphand in first-round bids. At the beginning of this month, Bloomberg […]

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Retail Asia03/01/2020

Two Thai billionaires are reportedly preparing bids for the Asian operations of UK grocery giant Tesco. Citing “people with knowledge of the matter”, Bloomberg has reported that Charoen Pokphand Group, owned by Dhanin Chearavanont, and the Chirathivat family-controlled Central Group are among a group of potential investors in discussions with Tesco over a potential buyout. […]

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Retail Asia02/01/2020

Thai Retailers Association members have stopped providing customers with plastic bags as a ban took effect on January 1. A campaign titled Every Day Say No to Plastic Bags run by Thai Retailer Association will stop its 75 member chains from giving away plastic bags through 24,500 outlets, aiming to cut 13.5 billion plastic bags […]

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Retail Asia19/12/2019

A sale of the Tesco Asia business by its UK parent would prioritize shareholders over sound long-term economic strategy, says GlobalData. Over the weekend, Tesco announced it had received an expression of interest from an unnamed party to acquire the Tesco business in Malaysia and the Tesco Lotus operation in Thailand. The company has subsequently […]

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Retail Asia16/12/2019

British grocer Tesco is considering exiting Asia with a shock sale of its operations in Thailand and Malaysia. Tesco has confirmed that following an inbound interest, it has “commenced a review of the strategic options for its businesses in Thailand and Malaysia, including an evaluation of a possible sale of these businesses”. “The evaluation of […]

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Retail Asia30/10/2019

Tesco Malaysia has opened its 60th store. The more-than 2000sqft store at Wangsa Walk is the retailer’s largest in the country, with recent changes in regulations reducing costs for an operation of this size and opening the path for similar formats going forward. “In providing a 2000sqft superstore with a targeted range of our famous […]

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Retail Asia15/10/2019

Tesco in Asia has reported a 54.1-per-cent boost in operating profit to £171 million as the company accelerated its cost-saving initiatives in Thailand. Those reforms include distribution efficiency improvements and more focused, effective marketing activity. Tesco in Asia sales during the 26 weeks to August 24 grew 8.4 per cent year on year to £2.556 […]

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Retail Asia12/07/2019

Tesco Thailand is evaluating opening as many as 750 more convenience stores, which would expand its overall network by about 50 per cent. No timeline was revealed for the move, which is one of several strategic growth options being considered by the British-headquartered grocery retailer. Another is the development of a premium supermarket offer in […]

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Retail Asia29/04/2019

Tesco Asia like-for-like sales fell 6.2 per cent last year, but the decline eased to 3 per cent in the fourth quarter as restructuring of the Thai business took effect. UK-headquartered grocery retailer Tesco Group included the results of its Tesco Asia operations in its annual results filing released yesterday. Tesco Asia’s operating profit for […]

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Retail Asia12/03/2019

Tesco Asia like-for-like sales continue to decline while the UK-headquartered company repositions its offer – masking a stronger underlying performance for the business. “We have made good progress in our discussions with suppliers towards a new commercial approach,” explained Tesco CEO Dave Lewis in a quarterly update. “We also accelerated planned changes to our operating […]

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