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Thai retail chain Tesco Lotus plans to continue expanding with at least 65 new stores this year, despite the market being sluggish. “We saw a small improvement in the market in terms of local consumption, but we are optimistic the Thai market is still…
Tesco’s statutory profit before tax improved from a £6.3 billion loss last year back into positive territory of £162 million as the impact of a deep write-down in the value of its stores last year eased off and it developed promising sales momentum and…
Christian Louboutin’s latest spring/summer bag collection is being showcased in a stunning pop-up boutique in Tokyo’s Isetan department store. Open on the second level until March 1, the Christian Louboutin Tokyo pop-up was inspired by showgirls and exotic…
Embattled Tesco achieved a record market share in Thailand in the latest quarter – as Asia shined in a mixed set of financials. Analysts appeared in agreement that the UK’s largest supermarket operator delivered patchy results overnight, despite the solid…
Business executives from global clothing giants H&M Inditex and Gap have canceled trips to Dhaka this month after the killings of two foreigners, industry sources said, causing anxiety for Bangladesh’s $25 billion garment export sector. Bangladeshi suppliers…
Tesco has ruled out selling any more of its Asian operations in the wake of the Homeplus South Korea divestment. At least for now. After the US$6 billion sale of Homeplus and an earlier divestment of a stake in its Chinese operation, Tesco Asia retains a…
There seems little prospect of the Tesco Thailand business – trading as tesco Lotus – being sold or scaled back in the wake of the British JV partner’s sale of its South Korean Homeplus business last week. Tesco PLC is under intense pressure to reduce debt…
Tesco Lotus Thailand is teaming up with CAT Telecom to offer a mobile virtual network service. The deal will see Tesco Thailand selling SIM cards to its 3 million Clubcard loyalty program members and other customers and marketing cellular network services…
A group led by MBK Partners Ltd., North Asia’s biggest independent buyout firm, is trying to close a deal to buy Tesco Plc’s business in South Korea for about $6 billion, including debt. The acquisition, if completed, would be the country’s biggest private…
Discount retailer Tesco Lotus said it saved a million plastic bags in the first day of a government campaign to stop use of disposable sacks on the 15th of every month. The Department of Environmental Quality Promotion has enrolled 15 retailers in the…
Asif Ahmad, the UK ambassador to the Philippines, is one of the busiest diplomats in the country, as he leads, almost on a weekly basis, the opening of new outlets put up by dozens of British companies which are taking advantage of the rapidly growing…
Any buyer of Tesco’s $6 billion South Korea unit will need a strategy to boost returns in a lethargic and saturated market for traditional retailers, likely involving real estate sales and a greater focus on Internet shopping. Britain’s Tesco has hired HSBC…
Private-equity firms such as MBK Partners and the Carlyle Group are among the short-listed bidders for Homeplus, a local discount retailer owned by the U.K. grocery chain Tesco, according to people with knowledge of the matter. Affinity Equity Partners and…
A carve-up of Tesco Asia operations seems increasingly likely with credible reports in three different nations now of serious expressions of interest. While markets await firm news of progress of HSBC’s quest to find a buyer for the Tesco Korea business, the…
KKR and Carlyle, the US private equity firms, have been invited to bid for the Asian business, which trades as Homeplus, while London-based CVC Capital Partners has also been asked to bid. The decision to sell the South Korean stores comes as the retail…
Tesco Malaysia has chosen NCR self-checkout know-how for introduction into its hypermarket community. The 2 corporations says the know-how will supply “a quicker and extra handy checkout choice” for its clients in Malaysia. “Clients will now have the liberty…
