3 April 2000
Tesco to separate e-commerce
TESCO is set to separate its e-commerce arm TescoDirect from its core supermarket business when it announces its annual results next week, it is reported.
The Financial Timesreports that the new division will be wholly owned by Tesco, which claims to be the worlds leading online grocery business.
While the move will spark speculation that Tesco will float the business, the chain is understood to have no such plans, says the FT.
The retailer is thought to believe that it is important that the two divisions remain within the same parent group.
Tesco has forged ahead of rivals in building up online sales, offering the service from more than 100 stores.
- Financial Times 03/04/2000 page 28
- Daily Mail 03/04/2000 page 53
- The Daily telegraph 03/04/2000 page 27