Tesco sees profits jump, but inflation likely will slow momentum in 2022-23

Top UK retailer Tesco takes stunning step, announcing it will price match Aldi

Though inflation is soaring and the next year promises significant uncertainty, Tesco at least for now can report a rise in profits to more than £2.6 billion from the year ending Feb. 28. The retailer’s leaders warned of a potential dip next year, though they are projecting between £2.4bn and £2.6bn in profits – depending […]

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 […]