Tesco Pulls Back Internationally, Faces Competitors

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Oct. 02 (Bloomberg) -- Bloomberg European business correspondent Caroline Hyde reviews earnings from Tesco and their U.K. competitor Sainsbury. She speaks on Bloomberg Television's "On The Move." (Source: Bloomberg)

The big four supermarket chains we have here in the united kingdom.

You have tesco.

The only one that is gaining market share is saintsbury.

It looks pretty positive for christmas.

Tesco, yes they posted an unchanged sales figure.

Europe has profit down 70%. they drag down tesco's trading profits.

The weakness we are seeing could offset the improvement in the united kingdom.

Tesco is optimistic about the ground they are making in the u.k.. -- u.k. europe is lagging.

They are optimistic with the second half.

You have, snapping at your heels, cheaper alternatives like all the -- aldi.

They are increasing the brand knowledge we have an united kingdom.

U.k. households already shop there.

They deny the largest market share stopped just 3.1%. they are the fastest growing retailer in the united kingdom and stealing one million customers per year.

They posted record profits this week and sales are up.

What might concern them is christmas.

They have lobster tail.

They're trying to offer premium products.

There is a squeeze.

They're feeling the higher and shoppers will stop their stepping on the heels of low- end.

Tesco is trapped in the middle.

Did they say anything about investment plans?

They seem to feel that investment is coming out of the international.

They want to invest in the united kingdom.

A japanese joint venture cost them 40 million pounds.

They filed for bankruptcy with fresh and easy.

Interesting news from china.

134 stores.

They have 10 resources and a huge project -- china resources and a huge project that cost 10 billion pounds.

It signifies that they are failing to impact in china.

They are closing stores, a midi competition -- amid competition.

Thank you so much.

Up next, mario draghi and what he said.

Keep it right here on on the

This text has been automatically generated. It may not be 100% accurate.


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