20th Apr 09
Tesco expected to announce one billion in weekly sales
by Paul Russell
www.tesco.com
British retailed Tesco had its beginnings in a humble market stall selling leftover rations from World War I, back in 1919. It is now about to attain a milestone never before reached by a retailer in the UK when it announces that sales for the last 12 months exceeded £53 billion – or more than £1 billion per week.
Tesco has become the third-largest retailer of food globally, and is scheduled to release its figures for the year ending 28 February on Tuesday of this week.
It is expected that its figures will show that the company’s profits from its 4,000 stores in 13 countries, exceeded £3 billion.
The vast majority of the retailer’s profits are still accounted for by operations in the UK.
Analysts estimate that the more than 2,000 retail outlets in the UK accounted for over £2 billion of the profits for the year ended 28 February, which is the equivalent of £80 per UK household.
Tesco overtook Sainsbury’s 14 years ago, establishing itself as Britain’s largest grocer, when it acquired the Scotland-based Wm Low chain.
Since that time, it has easily become the biggest player in the UK, being much larger than main rivals, ASDA, Morrisons and Sainsbury’s.
For more information on this articles please visit www.dailymail.co.uk.
www.tesco.com
Our Stories
- Tesco store managers see annual bonuses cut
- Royal Mail: half London sorting office to be sold
- Panasonic announces £3.4bn loss
- Thomas Cook attacks government over holidays at home promotion
- Clinton Cards falls into administration
- Wet April sees high street spending fall
- Five tough years ahead for UK jobs market
- Deal struck to save Thomas Cook
- Discount battle leads to sales decline at Morrisons
- Wetherspoon founder: pubs plans to be hit by taxes
- Stores in doubt as Argos profits fall
- Heathrow to increase landing fees
Popular Topics
afghanistan al qaeda amazon Apple ASDA bank of england barack obama BBC british airways china david cameron Debenhams Egypt facebook george osborne Google India ipad iphone ivory coast japan Libya London M&S Marks & Spencer Morrisons nhs North Korea Office for National Statistics pakistan protests russia Sainsbury’s South Korea terrorism Tesco Tunisia UK UK retailers UK retail news UK shopping us Waitrose Wikileaks x factorArchive
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- January 2009
