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
- 10:31 Live: Man charged after bowling alley siege due in court
- 10:30 Man injured in 'multiple-car' collision on M42 near Tamworth
- 10:30 Tamworth FC: Andy Morrell's team plans for Hednesford
- 10:30 Victory for hospital petition
- 10:30 When is the Carabao Cup quarter-final draw?
- 10:30 Commuter misery as water pipe repairs spark traffic delays in...
- 10:29 TV chef Nigella Lawson coming to Meadowhall this week - and here's...
- 10:29 College helps to transform lives across South Yorkshire
- 10:28 BrightHouse to pay £14.8m in compensation and refunds for...
- 10:28 Manchester United boss Jose Mourinho tore into players and flung...
- 10:28 Tottenham striker Harry Kane given advice from Diego Maradona...
- 10:28 West Ham lining up Julian Nagelsmann as option to replace Slaven...
- 10:28 College helps to transform lives across South Yorkshire
- 10:28 16 essential non-food items your local foodbank needs this Christmas
- 10:27 Victorian painting of Warwick to go to auction
- 10:27 My tattoos do not give you permission to touch me
- 10:27 Rutland County councillor steps down from Cabinet committee
- 10:27 Sheffield United fans due in court over violence
- 10:27 Host of Hallowe’en themed events for Half Term
- 10:26 PICTURES & VIDEO: Whaley Bridge's newest pub opens its doors
- 10:26 Tot almost killed when she is dragged inside faulty tumble dryer
- 10:26 Caroline Wozniacki reignites feud by hitting out at Maria...
- 10:25 Tot almost killed when she is dragged inside faulty tumble dryer
- 10:25 Supreme Court to hear Northern Ireland abortion case
- 10:25 Greenwood friends learn how to identify fungi
- 10:24 Doors close at one of Fylde coast's estate agents
- 10:24 Prince Harry applauds staff at Veterans UK on his visit to the Fylde
- 10:23 Tot almost killed when she is dragged inside faulty tumble dryer
- 10:23 Sheffield United fans due in court over violence
- 10:22 Has your Freeview service been affected by new 4G masts? Help is...