Tesco’s turnover increased in the first quarter of its financial year
Tesco’s turnover increased significantly in the first quarter of the company’s 2023-2024 financial year. According to the head of the largest British retail chain, the first signs of easing inflation are already visible.
According to the quarterly trading data presented at the London Stock Exchange on Friday, the department store chain’s sales in the 13 weeks ended May 27 – calculated on comparable sales space and product range – increased by 9 percent to 10.8 billion pounds (more than HUF 4,700 billion) in the British market year-on-year.
According to Friday’s report, the turnover of Central European Tesco stores increased by 1.1 percent to an amount corresponding to 1.044 billion pounds (456.4 billion forints).
Calculated together with the turnover of the Irish interest and subsidiaries, the company’s group sales increased by 8.2 percent to 14.83 billion pounds (almost HUF 6,500 billion) in the first quarter of the current financial year.
In his statement attached to the report, Tesco CEO Ken Murphy emphasized: the company is “very aware” of the significant burden the cost of living places on many of its consumers. However, according to Murphy, there are already “early, encouraging signs” of easing inflation.
Related news
Albert Heijn discloses methane emissions in “world first” move
The grocery chain revealed its methane emissions accounted for approximately…
Read more >Retail kept its position in terms of employer attractiveness
Honouring Hungary’s most attractive employers, the Randstad Awards have been…
Read more >Children’s future is at stake now – you can vote in 198 Tesco stores
In 198 Tesco stores across the country, customers can vote…
Read more >Related news
We are using up the Earth’s resources today, and there is something deeply embedded in this that we don’t even think about.
This year, July 24th is global Overshoot Day, or Overconsumption…
Read more >Pork, wet towel, tricks – this is how Hungarians grill!
Summer is in full swing, grills are constantly working, and…
Read more >Máté Préda is the new head of DODO in Hungary
DODO, a provider of last-mile smart logistics services, has appointed…
Read more >