Tesco Lotus Archives - Inside Retail Asia
Tesco executives and advisors will this week start evaluating offers for its Thai and Malaysian businesses following Friday’s deadline for binding offers.
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.
Tesco Thailand is evaluating opening 750 more convenience stores, which would expand its overall network by about 50 per cent.
Tesco Asia sales soared 7.3 per cent in actual rates in the May quarter, driven largely by Bangkok.
Tesco Asia like-for-like sales fell 6.2 per cent last year.
Actively reducing coupons and heavy bulk discounting programs has boosted Tesco Asia’s bottom line.
Tesco Asia sales plummeted in the last financial year – but profit soared by nearly a quarter.
Tesco Lotus plans a major marketing push for the remainder of this year as it tries to boost sluggish sales.
As Thailand’s big retailers resume their expansion plans, developments take on a fresh approach.
Tesco Asia’s sales growth stalled as Thais stopped spending during mourning period.
Tesco Thailand is not for sale, says parent company’s CEO. “I’m here to look at the expansion plans.”
Tesco Thailand aims to double its online shopping sales annually for the next three to five years.