Tesco has seen the turnover in the past 19 weeks pick up, thanks to strong performances around Christmas days. This was announced by the supermarket chain on Thursday morning.
In the period from 28 November to 9 January, turnover increased by 7 percent to GBP 19.9 billion. In particular, in the United Kingdom, where most of the turnover comes from, Tesco performed well with a turnover increase at constant exchange rates of 8.5 percent. In Central Europe, however, turnover fell by one per cent to GBP 1.5 billion.
Ken Murphy spoke of record achievements during the Christmas period. Over this period, 400 million products were shipped, divided into more than seven million orders, according to the CEO.
However, the outlook for the financial year 2020/2021 remained unchanged and Tesco still expects to achieve an operating profit at least as high as the result in the previous financial year. It will not make any difference for those who will be laid off: the plans to job cuts are in effect.