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11/06/2012
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. This means Tesco's domestic chain have now posted a full year of falling sales.
Two months ago chief executive Philip Clarke announced a £1bn makeover of the UK chain designed to "put the heart and soul back into Tesco" after domestic profits declined for the first time in more than 20 years. With more than 2,700 stores, Tesco's domestic chain pumps out two-thirds of the group's profits and Clarke admitted it had taken "a little bit too much away from the shopper" during years of penny-pinching to boost the bottom line.
Clarke described the UK chain's performance as "steady" and improving "relative to the market", adding that it was still early days in the turnaround as “very little” of the £1bn had been spent.
(H/GK)
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. This means Tesco's domestic chain have now posted a full year of falling sales.
Two months ago chief executive Philip Clarke announced a £1bn makeover of the UK chain designed to "put the heart and soul back into Tesco" after domestic profits declined for the first time in more than 20 years. With more than 2,700 stores, Tesco's domestic chain pumps out two-thirds of the group's profits and Clarke admitted it had taken "a little bit too much away from the shopper" during years of penny-pinching to boost the bottom line.
Clarke described the UK chain's performance as "steady" and improving "relative to the market", adding that it was still early days in the turnaround as “very little” of the £1bn had been spent.
(H/GK)
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Tesco enjoy record Christmas sales
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21 October 2014
Tesco Losing Out To Competitors
Sales at supermarket chain Tesco are said to be falling faster than any of its competitors. The findings, which have been complied by research firm Kantar Worldpanel, found that the troubled business is also losing its market share to discounted chains such as Aldi and Lidl. Waitrose is also usurping some of the market share.
Tesco Losing Out To Competitors
Sales at supermarket chain Tesco are said to be falling faster than any of its competitors. The findings, which have been complied by research firm Kantar Worldpanel, found that the troubled business is also losing its market share to discounted chains such as Aldi and Lidl. Waitrose is also usurping some of the market share.
04 June 2014
Tesco Reports Worst Sales Figures In 40 Years
Tesco's chief executive Philip Clarke has admitted the chain's latest drop in sales, which is the third falling quarter in a row, represents the worst he has seen in his 40 years with the group. According to the supermarket chain, for the three months to 24 May like-for-like UK sales, including VAT and excluding petrol, fell by 3.7%.
Tesco Reports Worst Sales Figures In 40 Years
Tesco's chief executive Philip Clarke has admitted the chain's latest drop in sales, which is the third falling quarter in a row, represents the worst he has seen in his 40 years with the group. According to the supermarket chain, for the three months to 24 May like-for-like UK sales, including VAT and excluding petrol, fell by 3.7%.
12 January 2010
Tesco Reports Strong Festive Sales
Retail giant Tesco enjoyed a three-year sales high over Christmas 2009. Sales during the six weeks proceeding 9 January - excluding new stores, VAT and fuel - grew by 4.9%. Tesco said double club card points could be attributed to 0.7% of this year-on-year increase.
Tesco Reports Strong Festive Sales
Retail giant Tesco enjoyed a three-year sales high over Christmas 2009. Sales during the six weeks proceeding 9 January - excluding new stores, VAT and fuel - grew by 4.9%. Tesco said double club card points could be attributed to 0.7% of this year-on-year increase.
03 October 2006
Tesco announces record profits
Leading UK supermarket chain Tesco has announced a rise in profits to almost £1.1 billion in the six months to August 26. The figure represents an increase of 10.3% on the same period last year. The supermarket chain reported an increase in overall sales of 12.7%, while there was a 12.6% increase in non-food sales.
Tesco announces record profits
Leading UK supermarket chain Tesco has announced a rise in profits to almost £1.1 billion in the six months to August 26. The figure represents an increase of 10.3% on the same period last year. The supermarket chain reported an increase in overall sales of 12.7%, while there was a 12.6% increase in non-food sales.
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