Tesco Defies Gloom with Huge Profits ; Britain's Top Shop Makes [Pounds]2.85bn and Pledges Price Cutsominous Warning for High St: ' We See More Pportunities'

Summary

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TESCO today defied the despair on the high street with record profits of [pounds]2.85 billion.

The supermarket giant said its profits jumped 12 per cent last year despite "challenging market conditions" as the credit crunch took hold.

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Extract

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Tesco Defies Gloom with Huge Profits ; Britain's Top Shop Makes [Pounds]2.85bn and Pledges Price Cutsominous Warning for High St: ' We See More Pportunities'

Chief executive Sir Terry Leahy warned competitors it planned to dominate even more during the slowdown, saying: "It ...

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