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Organisations are becoming much more creative in introducing agile working practices, The stores will close on 27 June, and a consultation process hopes to find new roles for those affected, Shoppers on Tesco Direct can order home delivery or free click & collect items in store, including official Rugby World Cup sports clothing and equipment. Other moves include selling Tesco Broadband and Blinkbox, the company’s movie streaming service, to telecommunications company TalkTalk. From Tesco favourites to goodies from our partners Google, Apple, Primark and loads more, the treats are on you. Little Helps Plan 2020 . Will coronavirus put supermarket pay on a more equal footing? “We saw a sales uplift of around 30% as people began to stockpile, which then began to tail off as the UK moved into a lockdown.”. Tesco is a great business with many strategic advantages. Tesco turnaround: Dave Lewis's five-year plan B ut it will be hard for new chief executive Ken Murphy to maintain this level while discounters continue to open stores. Tesco said affluent shoppers had bought the most – 10% of its customers accounted for almost a third of the extra sales, with stores in London experiencing the biggest sales increase. At the same time, we have invested in value for customers and continued to make strategic progress as the business moves beyond the turnaround: “The first half of this year has tested our business in ways we had never imagined, and our colleagues have risen brilliantly to every challenge, acting in the best interests of our customers and local communities throughout. Like-for-like is a measure of growth in Group online sales and sales from stores that have been open for at least a year (at constant exchange rates). Taken together, its UK running costs could increase by £650m to £925m, the group said. And as for new ideas to grow the business, which retailer doesn’t strive to achieve that? This was the date on which a clear pattern emerged of Ocado pursuing a technology strategy.". Available for everyone, funded by readers, Booming food sales and £249m tax breaks helps supermarket post £1.2bn in half-year profits, Supermarket chain follows Morrisons by rationing toilet roll, flour and other essentials, Decision comes on back of surge in online grocery trade and home deliveries, Nigel Wright found guilty of contaminating three jars with metal shards in extortion plot. Tesco is giving its shop and warehouse staff a 10.45 per cent rise in hourly pay over the next two years by doing away with their annual bonus. Britons made almost 80m extra grocery shopping trips in March, spending almost £2bn more on food and drink than in 2019 and setting an industry record for monthly grocery sales. Dave Lewis, Tesco's chief executive, would have missed out on free shares worth about £1.6m if Ocado stayed on a list used to compare rivals' success. Source: Kantar. Former Halfords CEO Matt Davies, known for his successful turnaround of the British car and bike parts retailer, has been named the new head of Tesco’s UK and Ireland business. Turnaround Bonus 2015/16 . The grocer has indeed hit its 3.5pc to 4pc margin target half a year early. US Election 2020: Americans choose between Trump and Biden, Vienna shootings: Three men praised for helping emergency services, US election 2020: What to look out for on election night, Vienna shooting: Arrests after Vienna attacked by 'freed jihadist', Coronavirus: Sweden brings in rule of eight for diners amid spike in infections, US election 2020: How to follow the results on the BBC, Sean Connery: Harrison Ford pays tribute to 'dear friend', Jack Ma's Ant Group: World's biggest market debut suspended, According to Tesco's latest annual report. Toilet roll sales were up 75%, while sales of liquid soap quadrupled. On that front, the job has arguably been done - depending on what industry metrics you count as reputable and who you listen to. “The right thing to do in these circumstances was to honour the pledge made to shareholders, particularly given that we have already made considerable efforts to look after our staff.”. .css-14iz86j-BoldText{font-weight:bold;}Tesco executives saw their pay boosted last year after online supermarket Ocado was removed from a calculator used to set bonuses. The retailer has launched a new partnership with Wagestream. A Tesco spokesperson said: "Our policy is to reward all colleagues responsibly, fairly and competitively against the relevant market pay benchmark for their role. Read about our approach to external linking. The one off turnaround Bonus will reward UK colleagues if we are successful in delivering our UK turnaround plans this year. We will review any changes made to macro-economic forecasts and this could result in releases from or further additions to the bad debt provision. Tesco extends commitment to prevent Amazon deforestation, SUPPORTING CUSTOMERS THROUGH CHALLENGING TIMES, exceptional items and amortisation of acquired, Group operating profit before exceptional items and amortisation of acquired intangibles, Include exceptional items and amortisation of acquired intangibles, Jump to accessibility statement (accesskey 0), Board, Board Committees and Executive Committee, Staying COVID-19 secure in 2020 in the UK, Proud to support local communities across Scotland, Supporting Black History Month and our BAME colleagues, Group statement of comprehensive income/(loss), Tesco enhances its support for the UK Armed Forces, Adapted offer to major shifts in customer buying habits; in UK, food sales up 9.2%, clothing down (17.2)%, GM down (0.3)%, Online delivery capacity more than doubled to reach 1.5m slots a week, including serving 674,000 vulnerable customers, c.90% of customers rating store safety highly; >1.1m customers more loyal to Tesco vs. pre-COVID, ‘Aldi Price Match’ launched in March and then extended to >500 lines; switching gains from Aldi for first time in a decade, Rewarding loyal customers through exclusive deals with extension of Clubcard Prices to c.2,000 products, Brand net promoter score up 2pts; recognised as ‘Brand of the Year’ in Marketing Week Masters Awards last month, Resilient Booker performance: Retail sales up 22%; Catering sales down (12)% - an improvement from 1Q driven by doubling of market share and benefit of Best Food Logistics, Response to COVID-19 leading to £(533)m 1H UK costs as we prioritise customer and colleague safety, UK & ROI volume and business rates relief offset COVID-19 costs; CE held back by COVID-19 costs and new Hungarian tax, Central Europe £59m,     (23.4)%,  margin 3.0%, Interim dividend 3.20p; 35% of last year’s full year dividend, in line with policy, Sale of Polish business to Salling Group A/S agreed in June; completion expected Spring 2021, Ensured full pay from day one for all colleagues sick or self-isolating with COVID-19, 26,000 vulnerable colleagues supported with 12 weeks full pay as part of COVID-19 support measures, Paid 10% bonus to all front line colleagues as a thank you for going above and beyond from 9 March to 30 May, Created 16,000 new permanent roles in August to support the exceptional growth of our online business, Creating 1,000 work placements for young people as a leading supporter of the ‘Kickstart’ programme, Two mental wellbeing tools, Headspace and SilverCloud, made available for free to all our 300,000 UK colleagues, Launched our first Business Diversity Internship in September, Collaborated across supply base to maintain availability and adapt to exceptional shift in demand due to COVID-19, Supported farmers hardest hit by the closure of large parts of the food service industry, including selling white shell eggs and buying products such as chicken and potatoes originally planned for use in restaurants, Moved to immediate payment of invoices for all small suppliers until January 2021, Pilot partnership launched with Loop in July for online delivery of products using only reusable packaging, Committed toa 300% increase in sales of plant-based proteins by 2025, Supplier viewpoint reached highest ever score of 79.5% (+6.7% pts YoY), Interim dividend of 3.2p per share; set at 35% of last year’s full year dividend, in line with policy, Sale of Thailand and Malaysia businesses approved by shareholders in May, regulatory approval and completion of sale expected in 2H 2020; to be followed immediately by shareholder meeting to approve the return of capital, Sale of Polish business to Salling Group A/S agreed in June for net cash proceeds of c.£165m; completion expected in Spring 2021; additional proceeds of c.£140m expected from the sale of residual properties in 2021; will contribute to over £0.5bn total cumulative proceeds from the sale of our loss-making Polish business, Since outset of crisis, we have prioritised safety and colleague & customer welfare; we will continue to progress food waste and packaging reduction as part of our ongoing efforts to reduce our environmental footprint. 75 %, while sales of liquid soap quadrupled increase by £650m to £925m the. 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