Jul 2, 2018

Tesco and Carrefour partner to purchase supplies

Grocers such as Tesco and Carrefour have come under pressure in recent years from the expansion of rivals such as Lidl and Aldi, which offer a much narrower range of products at deeply discounted prices. "Tesco and Carrefour have both struggled to match the discounters on quality and price, and the alliance should help it compete." Bruno Monteyne, a senior analyst at Sanford Bernstein, said: "Buying alliances are clearly in vogue as scale is more and more important in food retail. The tie-up between Carrefour and Tesco is a step in the right direction but is unlikely to materially change the numbers." Tesco shares were slightly higher in mid-morning trade, while Carrefour's were down 0.25 per cent. The tie-up builds on the strategy employed by Dave Lewis, Tesco chief executive, as he has tried to reinvigorate Tesco after a loss of competitiveness and an accounting scandal.

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