Tesco lifts margin target as recovery takes hold

Tesco lifts margin target as recovery takes hold
 

Tesco, Britain's biggest retailer, said it would increase investment in its stores and distribution network to boost profitability over the next three years after reporting strong first-half results that sent its shares soaring.
Shares in the group, which is recovering from the toughest downturn in its history, rose 9 percent to a 13-month high, while supermarket rivals Sainsbury's and Morrisons also gained on the news.
"Today, we are sharing our ambition to deliver a group operating margin of between 3.5 percent and 4.0 percent by our 2019/20 financial year," it said on... read more

 
5 October 2016 in Business, Views: 30
Source: Reuters
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