NEWS

Tesco pledges not to pass costs onto suppliers

Published on: 10th December 2013

Tesco chief executive Philip Clarke has insisted it will not target suppliers to compensate for falling sales.Tesco-Logo-300

After revealing like-for-like sales had fallen 1.5% in Q3 to 23 November, and admitting Tesco had been taken by surprise by the slowness of the economic recovery, Clarke claimed that analysts who predicted that Tesco would target suppliers for cost saving were mistaken.

At a supplier’s conference last week, Mark Suddaby, Tesco’s category director for grocery, said the company wanted to build closer relationships with its suppliers and called on them to come up with ideas for better collaboration.

Tesco admitted this May that its previous approach to suppliers had sometimes been too confrontational. At the time, Tesco launched a trading charter prioritising innovation and joint working.

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