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18/04/2012
£1bn Makeover For Tesco
Tesco have announced a £1bn store makeover after UK profits have fallen for the first time in more than 20 years.
"We fully recognise that we need to raise our game in the UK," said Tesco's chief executive, Philip Clarke, after the country's biggest retailer reported a 1% fall in UK profits to £2.5bn.
The UK business has been the cash cow enabling Tesco to expand overseas and Clarke admitted the retailer had taken "a little bit too much away from the shopper".
This culminated in a shock profit warning in January when shoppers voted with their feet over the key Christmas period.
In an effort to win back customers Clarke has promised more staff on the shop floor as well as "better" products, prices and promotions. Building a better Tesco in UK was his "first priority", he added.
(H)
"We fully recognise that we need to raise our game in the UK," said Tesco's chief executive, Philip Clarke, after the country's biggest retailer reported a 1% fall in UK profits to £2.5bn.
The UK business has been the cash cow enabling Tesco to expand overseas and Clarke admitted the retailer had taken "a little bit too much away from the shopper".
This culminated in a shock profit warning in January when shoppers voted with their feet over the key Christmas period.
In an effort to win back customers Clarke has promised more staff on the shop floor as well as "better" products, prices and promotions. Building a better Tesco in UK was his "first priority", he added.
(H)
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Sales Fall Again For Tesco
Despite an increase in money-off coupons and a blitz on customer services, Tesco has reported another quarter of falling sales in the UK. Analysts have described as “disappointing” the 1.5% declines in like-for-like sales, excluding petrol and VAT, in the 13 weeks to 26 May.
22 May 2012
Tesco Boss Refuses Bonus
The boss of a leading supermarket has turned down a bonus worth nearly £400,000. Philip Clarke, of Tesco, announced the decision as disappointing sales led the store’s UK profits to fall to £2.5bn.
Tesco Boss Refuses Bonus
The boss of a leading supermarket has turned down a bonus worth nearly £400,000. Philip Clarke, of Tesco, announced the decision as disappointing sales led the store’s UK profits to fall to £2.5bn.
23 October 2014
Tesco Chairman Quits As Profits Plummet
Tesco Chairman Sir Richard Broadbent is to stand down, after the retailer reported a 92% drop in pre-tax profits. The firm also revealed that the accounting black hole in its profits is larger than anticipated.
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Tesco Chairman Sir Richard Broadbent is to stand down, after the retailer reported a 92% drop in pre-tax profits. The firm also revealed that the accounting black hole in its profits is larger than anticipated.
03 October 2012
Tesco Profits Dip
Britain's biggest retailer Tesco has revealed a fall in profits for the first time since 1994. Pre-tax profits of £1.7bn for the six months to 25 August, were down 11.6% from the same period last year.
Tesco Profits Dip
Britain's biggest retailer Tesco has revealed a fall in profits for the first time since 1994. Pre-tax profits of £1.7bn for the six months to 25 August, were down 11.6% from the same period last year.
21 April 2009
Tesco Profits Soar Past £3bn
Supermarket giant Tesco has reported underlying annual pre-tax profits of £3.13bn. The retailer rung up sales of £1bn a week with group sales coming in at of £59.4bn in the 12 months to February 28. Today's profits are believed to be the first time a UK retailer has reached over £3bn on an underlying basis.
Tesco Profits Soar Past £3bn
Supermarket giant Tesco has reported underlying annual pre-tax profits of £3.13bn. The retailer rung up sales of £1bn a week with group sales coming in at of £59.4bn in the 12 months to February 28. Today's profits are believed to be the first time a UK retailer has reached over £3bn on an underlying basis.
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