"Ken Murphy, chief executive of Tesco, stated, 'We are committed to doing whatever we can to help keep down the cost of the weekly shop, and with the conflict in the Middle East creating further uncertainty for consumers and the economy more broadly, that commitment matters more than ever.'"
"'Over the last year, despite cost pressures from new regulation, we have increased our investments in keeping prices low, further improving quality and offering even better service.'"
"'Customers are choosing to shop more with us as a result, leading to our highest market share for over a decade.'"
Tesco reported adjusted operating profits of £3.15bn for the year ending February 28, a slight increase from £3.13bn. Sales rose by 4.6% to £66.6bn. However, the company anticipates profits may fall between £3bn and £3.3bn due to uncertainties from the war in Iran impacting energy prices and consumer confidence. Tesco plans to achieve an additional £500m in cost savings by 2026/27, emphasizing the need for cost control amid volatile global conditions while maintaining customer affordability.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]