The costs of COVID, new hires eat into Tesco’s sales profits over past year

Report: Watchdog group claims Tesco stopped rivals from opening nearby stores

Tesco’s profits saw a sizable decline during the past year, tumbling by nearly 20% because of the massive costs of doing business during the COVID-19 pandemic, the company reported. After posting more than £1 billion in pretax profit in the previous year, it brought in just £825 million in 2020-21. Those figures and the fact […]