PxPixel
Toys help Tesco march on - ToyNews

Toys help Tesco march on

Tesco's relentless domination of the grocery sector continues, with toys playing their part in its latest results success.
Author:
Publish date:
940_mypictr_300x300(3).jpg

The grocery giant saw particularly good growth in clothing, electricals and toys as it took up some of the slack from Woolworths.

Net profits jumped by 9.3 per cent to £2.327bn in the group's financial year which ran until the end of February.

It compares with £2.133bn in the previous year and beat market expectations of £2.32 billion.

Revenues, meanwhile, grew 6.8 per cent to £62.537bn.

The group enjoyed its best Christmas for three years as it reported a 4.9 per cent rise in UK like-for-like sales.

But UK like-for-like sales growth for the overall year is likely to be down at around three per cent from 4.3 per cent as the firm faces easing food inflation, a tougher consumer climate and increased competition from Sainsbury's, Morrisons and Asda.

Related

Featured Jobs

Copyrights Group

Marketing Manager

The Copyrights Group is one of the licensing arms within The Vivendi Group. Acquired by Vivendi in 2016 Copyrights manages the licensing for a portfolio of properties to include Paddington Bear. Some of the other companies within the Vivendi Group include Universal Music Group, and their licensing arm Bravado, Gameloft and Studiocanal to name a few.