Tesco eager to maintain suppliers on aspect after ‘powerful 12 months’
Ken Murphy, the Tesco chief government, is just not a terrific one for hyperbole.So when the Irishman describes an "incredibly tough year" for patrons wherein the group grappled with "unprecedented levels of inflation in the prices we have paid our suppliers for their products and the cost of running our own operations", you may be certain he's understating issues.
That was borne out in at this time's outcomes.The UK's main grocery retailer reported an adjusted working revenue of £2.6bn for the 12 months to 25 February. That was down 6.9% on the identical interval 12 months earlier - which the corporate stated mirrored decrease gross sales volumes within the UK and Republic of Ireland and the impression of value slicing.There are numerous methods of measuring the outcomes and...