Billion pound profit for Tesco

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Related tags: Financial times, United kingdom, Supermarket, Tesco

UK supermarket chain Tesco is set to confirm its position as one of
the UK's most profitable retailers when it unveils its results on
Tuesday, the Financial...

UK supermarket chain Tesco is set to confirm its position as one of the UK's most profitable retailers when it unveils its results on Tuesday, the Financial Times reports. Profits will easily top £1bn, analysts say. In this highly competitive environment where supermarkets are finding it difficult to retain customer loyalty, Tesco​ is sailing along. The Financial Times reports that Tesco's road to profit is clear. "Customers have told us in detail how they want prices to get lower and lower and we've listened carefully,"​ Tesco executive John Gildersleeve has said. While prices have been going down, Tesco has managed to sell more goods, allowing its profits to grow. It has also consistently put money back into the business and while shareholders have suffered smaller dividends, the paper continues, this has meant increased efficiencies.

Related topics: Market Trends

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