Subscribe Login
Retail

Tesco UK Hit With Further Product Withdrawal

The withdrawal of a further Tesco UK product from the shelves yesterday, Simply Roast Meatloaf, due to the presence of horse meat, is a "body blow that perpetuates the perception in the market that Tesco is more of a victim than not of 'horse gate'," according to a statement by Shore Capital Stockbrokers.

"That Tesco has moved openly and promptly reflects well on management," it added. However, "this withdrawal is also unlikely to do anything to help frozen prepared meat consumption in Britain, which has been reported by Symphony IRI to be down as much as 13% in the early weeks of 2013."

The withdrawal announcement was made yesterday by the retailer's Technical Director, Tim Smith. It is understood that the product originated in Northern Ireland.

Shore Capital added: "Tesco, as market leader ,[…] is perhaps gaining the highest profile from an unedifying series of events. Steps have and continue to be taken to try and reduce the scope for further such news flow but last night’s announcement represents a modicum of disappointment to our minds."

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

Stay connected with our weekly newsletter
Enjoy the most important stories from the world of Irish grocery retail, curated for you by our team of experts every week.
Stay connected with our weekly newsletter
Stay connected with our weekly newsletter
Enjoy the most important stories from the world of Irish grocery retail, curated for you by our team of experts every week.
Stay connected with our weekly newsletter