Arab Today, arab today british retailer tesco announces 69 fall in pretax profits
Last Updated : GMT 06:32:21
Arab Today, arab today
Arab Today, arab today

British retailer Tesco announces 6.9% fall in pre-tax profits

Arab Today, arab today

Arab Today, arab today British retailer Tesco announces 6.9% fall in pre-tax profits

London - XINHUA

British retail giant Tesco on Wednesday reported a 6.9 percent drop in group annual pre-tax profits to 3.05 billion pounds (5.12 billion U.S. dollars). It is the second consecutive annual drop in profits. Tesco said that the trading profit fell 6 percent year-on-year to 3.31 billion pounds. Besides, sales remained flat at 7.09 billion pounds. "Our results today reflect the challenges we face in a trading environment which is changing more rapidly than ever before. We are determined to lead the industry in this period of change," said Philip Clarke, chief executive of Tesco. "We are now accelerating our growth in new channels and investing in sharper prices, improved quality, stronger ranges and better service," he added. Tesco announced a partnership with China Resources Enterprise, giving Tesco a 20 percent ownership stake in the largest food retail business in China. The British multinational grocery and general merchandise retailer has over 530,000 staff in 12 markets. Tesco entered the Chinese market in 2004. Tesco's performance in international markets has been hit in recent yeas. It announced its exit from the Japanese and U.S. market in 2012 and 2013 respectively.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today british retailer tesco announces 69 fall in pretax profits Arab Today, arab today british retailer tesco announces 69 fall in pretax profits

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today british retailer tesco announces 69 fall in pretax profits Arab Today, arab today british retailer tesco announces 69 fall in pretax profits

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday