Tesco said food inflation has “lessened substantially” as it revealed higher sales and profits for the past year.
The UK’s largest supermarket group posted an adjusted operating profit of £2.83 billion for the year to February, up almost 13% on the previous year.
Tesco said retail like-for-like sales grew by 6.8% for the year, as it benefited from a return to volume growth in the UK and Ireland in the second half of the year as easing price inflation led shoppers to buy more products.
Chief executive Ken Murphy said: “Customers are choosing to shop more at Tesco, which is reflected in growing market share as they respond to the improvements we’ve made to the value and quality of our products.
Tesco Preliminary Results 23/24: Market share gains and return to positive volume growth as customers shop more at Tesco.
— Tesco News (@tesconews) April 10, 2024
Read more here: https://t.co/VqaZlIpMpn pic.twitter.com/Sbq2LZoZWV
“Inflationary pressures have lessened substantially; however, we are conscious that things are still difficult for many customers, so we have worked hard to reduce prices and have now been the cheapest full-line grocer for well over a year.”
Tesco introduces new 10p charge at the checkout
Tesco has introduced a new 10p charge at some of its UK stores as part of a new trial.
The supermarket giant is testing a new pilot scheme that sees customers given the option to buy a clothes hanger for 10p anytime they purchase F&F clothing.
Customers will be given the choice to either purchase the hanger, or it will be reused by the store.
A small number of stores are taking part in the trial, though Tesco did not confirm which stores or how many, the Mirror reported.
Responses from shoppers who have encountered the trial charge have been mixed.
One customer took to Reddit to label it as a “sneaky charge being imposed on customers”.
They said: “So, was in Tesco today, got some swimming clothes for the kids and my wife got a dress.
“Went through the scan as you shop and paid, went to get the tags taken off and was told it's 10p for a clothes hanger or they could take it for us.
“Now I work at this store, and I've never heard of this. I've also never seen anything around the store or around the clothes section.
“So either someone is trying to earn some extra Dosh or it's a sneaky charge being imposed on customers. Has anyone else had this?"
However, others backed the trial, arguing it was “surely a good thing” as it would reduce plastic waste and the only people taking the hanger would be people who needed it.
Another added: “It’s a trial. They are trying to discourage people from taking hangers as they usually just get chucked anyway. If Tesco can keep them they can reuse them and therefore don't have to produce more. Little planet saving steps."
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