Tesco makes ?3.8bn despite UK slump

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  • super jumbe
    V.I.P. Member
    • Dec 2008
    • 11610

    #1

    Tesco makes ?3.8bn despite UK slump


    Supermarket giant Tesco has revealed a fourth-quarter sales slump as it admitted it missed UK growth targets
    The group said UK like-for-like sales excluding VAT and fuel fell 0.7% in the
    three months to February 26 - leaving overall sales flat over the financial year
    as it struggled to combat tough consumer spending conditions.
    But a better performance overseas helped the group notch up another year of record annual underlying profits, up 12.3% to ?3.8 billion.
    The UK's biggest supermarket chain said record petrol prices and Government austerity measures had hit shoppers hard, but added that it had failed to keep up with the wider market in areas such as non-food. UK general merchandise sales dropped 3.3% in the second half as it underperformed in clothing and electricals.

    I call That lots off profit they should bring down the cost to help the poor.

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  • Canker_Canison
    V.I.P. Member
    • May 2010
    • 3905

    #2
    The way I read it, Tesco are telling the government that the UK market is ~~~~ed compared to the rest of the world. So they better do something quick.
    Canker

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