03/10/2006
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 said that one-fifth of its UK sales were now non-food products.
Sales of electronic products increased by 36%, while clothing sales also increased by 19%.
Environmental campaigners Friends of the Earth have called on the government to halt Tesco's domination of the market.
The chain now has an estimated 30% of the grocery market and the campaign group said that this was affecting small shops and farmers.
FOE spokesperson Vicki Hird said: "Tesco's booming profits are rooted in rock-bottom prices to farmers and a wholesale takeover of the high street.
"Ministers and competition authorities must put the brakes on the Tesco juggernaut and take action to protect our small shops, farmers and the environment."
(KMcA/EF)
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 said that one-fifth of its UK sales were now non-food products.
Sales of electronic products increased by 36%, while clothing sales also increased by 19%.
Environmental campaigners Friends of the Earth have called on the government to halt Tesco's domination of the market.
The chain now has an estimated 30% of the grocery market and the campaign group said that this was affecting small shops and farmers.
FOE spokesperson Vicki Hird said: "Tesco's booming profits are rooted in rock-bottom prices to farmers and a wholesale takeover of the high street.
"Ministers and competition authorities must put the brakes on the Tesco juggernaut and take action to protect our small shops, farmers and the environment."
(KMcA/EF)
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Parents warned over children's internet use
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Parents warned over children's internet use
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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.
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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.
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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%.
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