Last year's annual report showed revenues rising just 1% or so. Tesco seems to be struggling to maintain UK grocery market share against the onslaught of fast-growing competitors such as Aldi and Lidl.
Tesco (LSE: TSCO) recently announced that hourly pay rates for its store staff will rise by 10.5% over the next two years. Rising wages sound like good news for the supermarket's employees, but what about for its shareholders?
picture of Tesco store. Tesco has chopped almost 2,300 jobs in the past week alone. Supermarket giant Tesco PLC (LON:TSCO) has wielded the axe again with this time 1,200 jobs to go at the company's offices in Hertfordshire.
Among the 'Big Four' sector players, market leader Tesco's sales saw its sales rise by 3.5% in the period, while J Sainsbury plc (LON:SBRY) saw sales increase by 3.1%, William Morrison Supermarkets PLC (LON:MRW) was up 3.7%, and Asda - owned by ...