Tesco reported its first profit drop in almost two decades as it sought to halt declining same-store sales by ramping up investment in its supermarkets.
So-called trading profit, a measure that excludes property gains, fell 11 per cent to £1.59 billion in the six months ended August 25th, the retailer said in a statement today.
Chief executive Philip Clarke has pledged to invest £1 billion in new products, additional staffing and Tesco’s 2,900 UK stores as...
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