Tesco has reported a six per cent fall in group trading annual profit to £3.3bn, the second consecutive year that it has announced such a decline.
The supermarket chain’s preliminary results for the last year also revealed a decline in UK sales by 0.1 per cent to just over £48bn while UK trading profit declined by 3.6 per cent to £2,191m.
In response to the digital shift, Tesco, which noted a strong top-line growth of online general merchandise, said it was planning to increase its Click&Collect locations “significantly” from the current 1,750 stores.
Additionally, in summarising its annual highlights, Tesco Read full story ›
Source: The Drum
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