It's a Tesco turnaround as supermarket returns to profit after record losses

By Euronews

Published on 13/04/2016 - 13:46 GMT+2

It is a Tesco turnaround as Britain's biggest retailer returns to profit for the first time in three years.

It is a Tesco turnaround as Britain’s biggest retailer returns to profit for the first time in three years.

Tesco returns to profit as UK sales grow https://t.co/cHAOJxv8Nu pic.twitter.com/k0q6dOfOw9

— BBC Business (@BBCBusiness) April 13, 2016

Tesco posted a €205m pre-tax profit in the first quarter with sales up 0.9 percent in the fourth.

The results are remarkable considering last year the company lost a record €7.5bn.

Tesco reports first quarterly sales growth for three years: https://t.co/2iVw56fCBC pic.twitter.com/5GeFSpDl0d

— Reuters Business (@ReutersBiz) April 13, 2016

Slowly, steadily and surely, Tesco</a> is returning to profitability thanks to CEO Dave Lewis <a href="https://t.co/yRMC3VVhhK">https://t.co/yRMC3VVhhK</a> <a href="https://t.co/DyZFdhh3JI">pic.twitter.com/DyZFdhh3JI</a></p>— Retail Gazette (retailgazette) April 13, 2016

The chief executive Dave Lewis, despite his rapture, warned against complacency
saying the market was ‘‘challenging and uncertain’‘ adding the company would continue to invest despite the economic uncertainty.