Find in the news:
BY COUNTRY

Tesco prepares to close Hungary stores



In a bid to improve the long-term profits of its local operations, Tesco has made the decision to shut down 13 of the stores it holds within Hungary.

The chain is currently going through a period of recovery after going through a year which has been beset by high-profile departures, a declining share price and profit warnings.


The group still operates 200 stores within Hungary. It commenced operations within the country during 1995 and has since grown to be the third-biggest employer, with three million customers.


Large retailers based in Hungary are set to face new legislation which enforces the closure of chains showing losses for two consecutive years. They are also facing increases in food inspection costs.


A Tesco spokesperson said that the decision to shut down 13 stores has been made in a bid to secure the long-term profitability and future of their business for their customers and colleagues. The group remains committed to their customers and business in Hungary and are proud of their continued contribution to the economy of the country. They look forward to continued service to their three million customers via their existing stores.


Tesco’s top priority is to work with people in the stores that are affected and plan to do everything they can to find alternative employment within the group for them.


Tesco is set to close 43 UK stores which have become unprofitable. It is planning to cut its capital expenditure by £1bn during its cost-cutting period.


The share price of Tesco remains fairly flat during this morning’s trading and has grown a mere 0.45% after the release of this latest news.

More about shopping malls in Hungary



DAY BEFORE YESTERDAY, Australia:
The closures caused the company to lose 27% of its shopping days, but it grew revenue.
Jan 26, 2022, China:
The new mall has been integrated into a single space with the retailer's existing store.
Jan 26, 2022, USA:
Elon Musk's message refers to an advertising campaign by McDonald's, which invites cryptocurrency investors to work for it.
Jan 25, 2022, USA:
By the end of January 2022, Savage X Fenty will open five mono stores in the U.S.
Jan 23, 2022, USA:
Amazon Style is experimenting with various tech services to enhance the shopping experience.
Jan 20, 2022, USA:
The new tenants include both international brands and small local companies.
Friend
and Follow
Vegas Crocus City GLA:1 199 078 SF
ADDRESS: 61 km Moscow Ring Road
Russia . Moscow region
Vegas Crocus City
Mall of Tripla GLA:914 932 SF
ADDRESS: Veturitie 13
Finland . Helsinki
Mall of Tripla
Olympia Einkaufszentrum GLA:602 779 SF
ADDRESS: Hanauer Straße 68, 80993
Germany . Munich
Olympia Einkaufszentrum
212 Istanbul Power Outlet GLA:753 474 SF
ADDRESS: Mahmutbey Merkez Mah. Taşocağı Cad. No:5 Bağcılar  /  İstanbul
Turkey . Istanbul
212 Istanbul Power Outlet


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us