UK: Tesco plans c-store expansion
Tesco is planning to open 150 convenience stores in the UK over the next 12 months.
The UK retail giant confirmed its plans to take its convenience store network to over 900 outlets but declined to comment further.
The convenience sector is one of the more buoyant channels in the UK and rival retailer The Co-operative Group is looking to boost its presence with the possible takeover of Somerfield, the UK's fifth-largest grocer.
Tesco, which announces its preliminary results tomorrow, also has ambitions for its convenience business in China, where last week it opened its first Tesco Express store in Shanghai.
Despite the GBP50bn (US$88bn) bank rescue package announced this morning (8 October) by the UK government, the crisis in the financial markets is still making its presence felt on the UK high street. ...
The clouds hanging over the financial sector and the problems they are creating for the food industry have dominated this week's headlines. Kraft Foods announced a swathe of job cuts, Uniq issued a pr...
Seven & i Holdings, Japan's biggest retailer, has seen its first-half operating profit rise by 2.8%, helped by strong growth in its convenience store business....
UK-based convenience food group Uniq warned today (8 October) that it expects to make a loss for the second half of the year....
New Zealand's Fonterra Cooperative Group is planning to raise NZ$50m ($31.51m) of 5.5-year notes to repay short-term debt, according to local reports....
Russian retailer Magnit said today (7 October) that its like-for-like sales during the first nine months of the year jumped by almost 28% in dollar terms....
Mars Snackfood has unveiled a raft of new products for the US market at the National Association of Convenience Stores Show in Chicago....
Scan has acquired a 15% minority holding in Swedish convenience food firm Matfabriken i Skandinavien....
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