Some Latest Info About Tesco Plc

1) Tesco Announce Acquistion of 2 Suppliers in the Fresh & Easy Value Chain - June 2010

[pic]LONDON (MarketWatch) -- U.K. supermarket giant Tesco is taking over the U.S. operations of two suppliers to its Fresh & Easy chain, the Financial Times reported Tuesday, citing an interview with Tim Mason, the head of the division. Mason said the move was a sign of Tesco's commitment to the Fresh & Easy business, which has grown more slowly than Tesco hoped. The suppliers -- Wild Rocket Foods and 2 Sisters Foods -- followed Tesco to the U.S. five years ago. The report said the move will add about 750 staff to Tesco's U.S payroll and will allow the company to generate savings by putting the management teams of the units together. Tesco said in its most recent update that comparable sales for the division were growing at a high single digit rate. Mason said that sales at its oldest stores were still growing at the same rate as the rest of the chain. The size of the acquisitions isn't enough to require disclosure, but will be tens of millions of dollars, he added.

2) Tesco int’l head Clarke to succeed CEO Leahy in 2011June 8, 2010

Mark Potter/Reuters

London: Terry Leahy, the long standling boss of Tesco, has announced his surprise resignation from the World's No. 3 Retailer and will be succedded by lifelong company man and head of International business Philip Clarke.

Tesco said that leahy decided to retire in March 2011 at the age of 55 and after 14 years as CEO, during which the time the British company has grown to dominate the retail market at hom and expand abroad from the United States to China.

By 0713 GMT, Tesco Shares fell 1.7% to 400 pence, the biggest fall on the UK's benchmark FTSE-100 Index.

Collins Stewart analyst Greg lawless said the timing was a surprise but that clarke was a good choice as successor.

"Phil (Clarke) is Tesco through and through.  He's been running the international business well and was seen as...