By Jennifer Creevy2013-02-13T15:45:00+00:00
Tesco has completed a sale and leaseback of seven sites for a sum in excess of £490m.
The grocer has sold four trading stores and three mixed-use sites under development in the UK.
The deal is structured as a 50-50 joint venture with the Cambridge University Endowment Fund.
Tesco has expanded its Whoosh one-hour delivery service to London and Bristol, as new boss Ken Murphy unveiled plans to make Tesco a more digital business.
Retail sales rose in May as ecommerce sales drove growth but food stores suffered amid the reopening of hospitality venues.
Tesco has posted an uptick in first-quarter sales but cautioned that growth “moderated” during April and May as Covid-19 restrictions eased.
Morrisons has rejected a takeover bid from American private equity giant Clayton, Dubilier & Rice (CD&R).
Grocers are facing availability issues and depleted shelves across fresh and ambient products as a shortage of HGV drivers continues.
Tesco has revealed that a shortage of HGV drivers is adding to food waste.
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