Downward turn for UK profits at Tesco

Tesco's UK profits slipped one per cent for the year to the end of February, contrasting with an 18 per cent rise in profits from its international business.

Chief executive Philip Clarke said: "We need to raise our game and are committing more than £1bn to make the UK shopping trip better for customers."

This will include employing more staff in its fresh produce sections, the first part of its plan to create 8,000 net new jobs in its existing stores. Earlier this month Tesco announced its new "Everyday Value" range will focus more on British provenance.


Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Sign up now
Already registered?
Sign in

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Read These Next

How will reduced apple and pear harvests hit the industry?

How will reduced apple and pear harvests hit the industry?

This spring, many top-fruit growers in the UK and across Europe were dismayed to discover that swathes of their orchards had been hit by frost.

How should fruit growers prepare for water abstraction reform?

How should fruit growers prepare for water abstraction reform?

Upcoming reforms to water abstraction licensing will for the first time cap the amount of water that fruit growers can take for trickle irrigation.

Getting a measure of the production labour crisis

Getting a measure of the production labour crisis

At a debate during last week's Fruit Focus trade show in Kent, senior industry figures painted a bleak picture of an increasingly difficult seasonal labour market that is already impacting on investment.