May 5, 2021

Tesco to boost sales of healthy foods after investor pressure

Tesco has agreed to increase sales of healthier food following pressure from investors, making it the latest FTSE 100 company to amend policy in response to the prospect of a shareholder vote. ShareAction had mobilised seven institutional investors and more than 100 individual shareholders to table a resolution at the company's annual meeting, the first time the issue of healthy eating had been part of the formal agenda rather than just a question from the floor. On Tuesday ShareAction said it would withdraw the resolution after the supermarket group agreed to set out further actions to boost sales of healthy foods at its central European business and in Booker, which supplies independent corner shops. Tesco had already pledged to increase the share of healthy products in UK and Irish stores, from 58 per cent to 65 per cent of sales by 2025. Simon Rawson, head of corporate engagement at ShareAction, said the group had been in conversation with Tesco about healthy eating targets for some time.

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