Tesco reports over 6% fall in annual profits

Tesco Plc, the UK's biggest retailer, on Wednesday reported a fall of more than 6 per cent in its annual profits even as its total global sales reported a marginal increase.

Tesco investor demands CEO Philip Clarke’s resignation: FT

Tesco CEO Philip Clarke is reportedly facing calls to quit from a top shareholder, who is not happy with Clarke's efforts to turn around the biggest UK retailer.

Citing anonymous source, the Financial Times reported that one of the top 20 investors is demanding Clarke's resignation because the investors believes that Clarke is no the right person for the job.

Waitrose is the best; Tesco is the worst supermarket in the UK: poll

Waitrose is the best supermarket in the UK, while Tesco is the worst, according to a new survey by consumer watchdog Which?

The watchdog polled 11,000 consumers across the country, and found most respondents voting in favor of Waitrose, which received a customer score of 82 per cent.

Waitrose also received five-star ratings for the quality of its fresh products as well as for its customer service.

Tesco, Aldi removed Comigel’s beef products form sale

British retailers Tesco and Aldi have removed frozen beef products made by French supplier Comigel from sale because of "a labelling issue".

The two retailers withdrew frozen apaghetti bolognese and lasagne after the emergence of the latest alert over the origin of the meat.

Announcing its decision of withdrawing the beef products, a spokesperson for Aldi said, "Comigel has flagged concerns that the products do not conform to specification. They have been withdrawn immediately so that Aldi can conduct its own investigations into the factory concerned."

Facebook virtual currency goes on sale at Tesco and GAME

UK gamers can now purchase virtual online goods within Facebook, such as gifts and items in applications like Farmville, using virtual currency Facebook Credits that has been made available in more than 1,000 high street stores of supermarket chain Tesco and games retailer GAME.

The gift cards, which will allow users to purchase virtual farm animals or to pay to attend virtual events, costs £10 or £20. It should be noted here that the virtual currency is redeemable only on Facebook.

Tesco and Others Concede to Rising Prices of Hovis

Premier Foods, the maker of Hovis bread and Branston pickle, has successfully convinced Tesco and other supermarkets to increase the price they pay for bread and cakes. This comes in response to the increase in the cost of wheat, which jumped more than 50p between July and September.

“We think we’ll resolve this in the coming weeks”, said Premier’s Chief Executive, Robert Schofield.

Tesco continues to stock 7 of the most popular Hovis products, but has already dropped 12 smaller lines. Premier continues to hope that these will be reinstated.