UK: Tesco shareholders vote against auditing resolution
A majority of shareholders at UK retailer Tesco decided to vote against a resolution for independent auditing of its clothing factories on Friday (29 June).
The resolution was put forward by shareholder Ben Birnberg, company secretary for the anti-poverty charity War on Want, which claims the supermarket sources clothes from Bangladeshi factories where clothes workers are paid five pence an hour.
War on Want said that 9.3% of shareholders voted for a resolution at Friday's AGM, which demanded supplier factories undergo independent auditing to ensure "decent pay and conditions for employees".
Shareholders including the Joseph Rowntree Charitable Trust - which holds close to a million shares - supported the resolution.
Birnberg said: "The unprecedented level of shareholders who voted for the resolution or withheld backing for Tesco sends a clear signal that people want decent pay and conditions for workers in the supply chain."
Tesco was not immediately available for comment.
Brand licensor Cherokee is exploring the possibility of a sale, it said today (18 December)....
One year after exposing what it described as "sweatshop" conditions in factories producing clothes for leading UK retailers, the charity War on Want claims workers in Bangladesh are still paid just GB...
Cherokee's net earnings for the three months ended 3 November totalled $3.7m, compared to $3.28m in the year ago period, fuelled by continued growth of its international royalty revenues....
Tesco Plc, the UK's biggest supermarket group, yesterday (4 December) shrugged off fears of an economic slowdown as it reported further growth in sales, helped by a strong performance in its non-food ...
Soaring revenues at online fashion retailer ASOS have led to speculation that the company may be an acquisition target....
UK fashion retailer Primark is poised to overtake George at Asda as the market leader in the GBP8.5bn value clothing sector according to new research published today (26 October)....
Cherokee has signed an exclusive international license agreement for its Cherokee brand with Arvind Mills, India's largest integrated textile company and retailer....
Tesco's Central European clothing boss is leaving the supermarket group to take up the top post at online lingerie and swimwear retailer figleaves.com....
- Steps to piloting living wage in garment factories
- How to ensure sustainability is more than a slogan
- Trump blows the case for Brexit out of the water
- US apparel retailers' November 2016 sales roundup
- Duty-free trade key to build Africa supply chains
- US Q3 in brief – Destination Maternity, Cherokee
- Taiwan textile maker investing in first US plant
- Outdoor apparel sector set for double-digit growth
- Esquel efficiency drive continues to boost brands
- Myanmar garment industry "lacking labour rights"