Tesco profit up thanks to Asian markets

first_img whatsapp Tags: NULL whatsapp Tuesday 19 April 2011 2:26 am Tesco said it would step up innovation in a bid to improve its performance in a tough UK market, as it met forecasts with a rise in annual profit driven by Asian markets.New chief executive Phil Clarke, who took over from Terry Leahy last month, said on he was setting six objectives for the British supermarket group, including reviving flagging sales of general merchandise goods.“We didn’t achieve our planned growth in the year and this was only partly attributable to the deterioration in the consumer environment during the second half,” Clarke said of Tesco’s performance in Britain, where it makes over two-thirds of sales and profits.“We can do better and we are taking action in key areas – for example, to drive a faster rate of product innovation and to improve the sharpness of our communication to customers.”Tesco, which trails Carrefour and industry leader Wal-Mart by sales, posted a 12.3 per cent rise profit before tax and one-off items, but including property deals, of £3.8bns in the year to February. Tesco profit up thanks to Asian markets Share John Dunne Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wraplast_img

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