Thursday November 26, 2020

Tesco's Irish sales slip as retailer exits US

Tesco, Britain's biggest retailer, has reported its first fall in profits since the early 1990s after a slowdown in sales in Britain, and its decision to pull out of the US cost more than £1bn.

17th April, 2013
Tesco's Philip Clarke.

Tesco has reported its first fall in profits since the early 1990s after a slowdown in sales in Britain, and its decision to pull out of the US cost more than £1bn.

Philip Clarke, chief executive, said the results "are natural consequences of the strategic changes we first began over a year ago and which conclude today".

Like for like sales in the company's Irish stores, excluding petrol, slipped 0.3 per cent in the...

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