Confident Tesco on the road to recovery
Chief executive Dave Lewis said the supermarket giant was “moving out of crisis and showing real confidence in its recovery” as it pledged to slash costs by £1.5billion over the next three years by improving its distribution network and simplifying store operations.
It aims to boost profit margins to between 3.5-4 per cent from 2.18 per cent in the half-year to August 27 and is on track to deliver annual operating profit before exceptional items of £1.2billion.
Although interim pre-tax profit was down 28.3 per cent to £71million, Tesco’s operating profit before one-off items jumped 60.2 per... read more
- 16:16 The five most expensive new cars in the world
- 16:15 Pet store chain to stop selling rabbits in Northampton over Easter
- 16:15 New Ferry family reunited with pet cat four days after explosion
- 16:15 EastEnders spoiler: Cora Cross' return REVEALED in devastating plot...
- 16:15 Banbury man dies after crashing car into tree in Northamptonshire
- 16:15 Morecambe FC players and staff paid wages after third delay
- 16:15 National Sea Life Centre in Brindleyplace unveils latest attraction
- 16:14 Man convicted of rape following four-month horror spree
- 16:14 Man painting 'I'm innocent' on roof in Saner Street - police at scene
- 16:14 Cristiano Ronaldo statue: Bust of former Manchester United ace...
- 16:14 Man City confident Arsenal will miss out academy starlet Jadon Sancho
- 16:14 Three Manchester United games that will decide top four chances
- 16:14 WATCH: Stomach-churning footage of cruise ship being BATTERED by...
- 16:12 RNLI figures show increase for Northumberland lifeboat crews
- 16:12 Welcome to Chester's chocolate factory
- 16:12 Do you know this man?
- 16:11 Suspect in school machete incident appears in court
- 16:11 Police 'wanted' man appeal: Have you seen this suspected burglar...
- 16:11 Stabbing victim Aiden McAteer's family tell of shock at home attack
- 16:11 Hilton shoplifter stole garlic and tomatoes worth £1 from Tesco
- 16:11 Wife beating cricketer Mustafa Bashir could have his sentence...
- 16:10 This is when Beauty and the Beast Chip mugs will be back in Primark
- 16:10 Revealed: Ambitious bid to send Channel 4 to Coventry
- 16:10 Some 146 migrants feared dead after shipwreck, sole survivor says
- 16:10 Do you recognise these watches?
- 16:08 Fantasy Football Tips: The transfers you should make for Gameweek 30
- 16:07 RNLI figures show increase for Northumberland lifeboat crews
- 16:07 Knitted chicks set to boost funds
- 16:07 Everything you need to know ahead of May's local elections in...
- 16:07 New property firm Watsons Estate Agency opens in Kimberley