Read Now

Available to read online for free

TradeIssue12

Wicked Kitchen Credited to Helping Boost Tesco’s Financial Performance

Wicked Kitchen, the plant based ready meal brand stocked by Tesco has been credited with helping the supermarket’s financial performance over the past 12 months. The access to healthier options and launch of the Wicked Kitchen brand has helped the retailer overcome Brexit-fuelled cost increases, contributing to the increase of profits.

In an article published on Bloomberg, they spoke to Bryan Roberts from TCC Global, who said: “In Tesco’s UK grocery business, it’s a job very well done. With Aldi and Lidl still growing strongly, it’s an impressive recovery.”

In their article, they write: “The supermarket operator’s profit jumped in the latest financial year as it sold more ready meals from ranges like Hearty Food Co. and plant based products from the new Wicked Kitchen line.

“That helped Tesco mitigate inflationary pressure stemming from the weak pound, which has prompted staff cuts and price increases by Britain’s grocers as they compete with German discounters Lidl and Aldi for market share.”

Derek Sarno, who developed the Wicked Kitchen range with Tesco said: “This is so amazing! To have the Wicked brand, which represents all foods free from animals, as a main reason for driving success! The world is changing and it’s all from driving compassion into innovation.”

The Wicked Kitchen range was launched at the beginning of the year in response to consumers wanting more plant based food that are convenient and ideal for on-the-go lifestyles.

Leave a Comment





Advertisement

Join the Mailing List

We will keep you updated with the latest plant based news and interesting items.