Supermarket Giant Tesco Steps Up to Help Those in Need

  • Tesco announces £30m support package for local communities fighting Covid-19
  • £25m food donation programme through Community Food Connection scheme and distribution centres
  • £15m top up food donation to FareShare and Trussell Trust over 12 weeks
  • £1m donated to both organisations for operations
  • £2m funding from Bags of Help community donation scheme to vulnerable charities
  • Stores have access to £1m for local causes
  • Tesco Group CEO, Dave Lewis: ‘We want to help those who need it most’
  • Lindsay Boswell, FareShare CEO: ‘vital support in communities’ during crisis

Tesco has announced a £30 million support package for local communities tackling the Covid-19 crisis, including a £25 million food donation program. The company is currently donating £3 million of food every month through its Community Food Connection scheme and distribution centers. Over the next 12 weeks, Tesco will provide an additional £15 million of food (ambient and fresh) to FareShare and the Trussell Trust. Additionally, the retailer will donate £1 million between these two organizations for their ongoing operations. The company will also focus £2 million from its existing Bags of Help community donation scheme on charities assisting the most vulnerable. Tesco Group CEO Dave Lewis said, ‘Our stores are at the heart of the communities we serve and as well as supporting our customers and colleagues, we want to help those who need it most, locally.’ He added, ‘We will significantly boost our food donations program to ensure food banks and community groups have the supplies they need while giving extra resources to the British Red Cross and focusing our Bags of Help scheme to deliver more community support where it’s most needed at this difficult time.’ Lindsay Boswell, FareShare CEO, expressed gratitude: ‘As the coronavirus crisis continues, we are very thankful for our longstanding partner Tesco and their generous support. We know that many frontline charities we work with are continuing to provide vital support in their communities, so the combination of funding and unprecedented food donations from Tesco will allow us to ensure they have a consistent supply of food during this difficult time.’

Factuality Level: 10
Factuality Justification: The article provides accurate information about Tesco’s plans to support local communities during the Covid-19 pandemic with financial donations and food donations. It includes specific amounts and details about the organizations involved, as well as quotes from relevant sources.
Noise Level: 2
Noise Justification: The article provides relevant information about Tesco’s efforts to support local communities during the Covid-19 pandemic and includes quotes from relevant sources. It is concise and stays on topic without diving into unrelated territories.
Financial Relevance: Yes
Financial Markets Impacted: Tesco’s actions may impact its reputation and potentially affect its sales and stock price
Financial Rating Justification: The article discusses Tesco, a major grocery retailer, announcing a £30m support package for local communities during the Covid-19 pandemic. This can have an impact on the company’s reputation and potentially influence consumer behavior towards the brand, which may affect its sales and stock price.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text.

Reported publicly: www.retailsector.co.uk