Home Business News Tesco sells Harris and Hoole coffee chain to Caffe Nero

Tesco sells Harris and Hoole coffee chain to Caffe Nero

by LLB Reporter
23rd Jun 16 10:30 am

The retailer sold its Giraffe restaurants earlier this year

Supermarket giant Tesco is selling its Harris and Hoole coffee chain to Caffe Nero, it was revealed today.

The new comes as the big four retailer sold off its Giraffe restaurants to Harry Ramsden’s owner Ranjit Boparan earlier this month. .

The announcement was part of Tesco’s first quarter trading statement. Tessco’s UK like-for-like sales were up 0.3 per cent as total sales for the group grew by 1.8 per cent while group like-for-like sales were up 0.9 per cent.

Tesco CEO Dave Lewis said: “We have delivered a second quarter of positive like-for-like sales growth across all parts of the group in what remains a challenging market with sustained deflation.

“We are encouraged by the progress we are making. By growing volumes, transforming the way we work together with our suppliers, and further optimising our store operating model we are rebuilding profitability in a sustainable way.”

These figures are particularly good news for Tesco as in April 2015 it posted a catastrophic £6.38bn loss – the largest in its 96-year history.

 

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