Tesco success due to better purchasing

16 April 2007
More news

17 April 2007 | Paul Snell

Retailer Tesco says better purchasing helped it achieve profits of over £2.5 billion last year.

Announcing its preliminary results, the supermarket credited its pan-European purchasing of fresh produce and own brand products for strengthening the business and improving competitiveness in the rest of Europe.

Sales in Europe (outside the UK) grew 18.7 per cent to £6.3 billion. Total group sales were up 10.9 per cent compared with last year, reaching £46.6 billion.

The company said more direct sourcing from Asia and a larger and more efficient supply chain had boosted sales of non-food items. Non-food sales across the group now account for £10.4 billion.

The retailer intends to introduce more local suppliers to its stores and guarantee dairy farmers at least 22p per litre of milk through its new direct contracts (Web news, 10 April).

* See today's blog to have your say (www.supplymanagement.com/blog)



SMapr2007

LATEST
JOBS
Swindon, Wiltshire
upto £40K base (+ Paid overtime and corporate benefits)
Honda Manufacturing Ltd
Kew gardens, Richmond upon Thames, London (Greater)
£37,000 - £42,500 per annum pro rata, depending on skills and experience
Kew Royal Botanic Gardens
SEARCH JOBS
CIPS Knowledge
Find out more with CIPS Knowledge:
  • best practice insights
  • guidance
  • tools and templates
GO TO CIPS KNOWLEDGE