Tesco on the Up

While new panic mongering in the US has led to stocks suffering both there and in Asia, over in the UK there’s some fairly positive outlook mongering going on..

Supermarket chain Tesco has reported its annual, pre-tax profits are £3bn – the highest ever recorded for a UK retailer.

Not bad.  This despite competitors Morrisons and Sainsbury’s reporting bigger rises in full-year sales.  But while Tesco can concede that it has been struggling to keep consumers after a better price, it has been taking measures to keep prices down.

One such method is hedging, which means that import costs and currency market fluctuations – the weakening British pound being a main offender – are not going to affect the consumer.

Non-food products are also to see more attention – and the introduction of a current account to add to its bank within the next two years.

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