Trading Conditions 'Meaningfully Tougher' In Central Europe, Says Tesco CEO
Trading conditions in Tesco's Central Europe division were "meaningfully tougher" over the past year, chief executive Ken Murphy has said, as the division reported a 0.6% decline in sales in the year to 27 February.
This compares to a 8.6% increase in its core UK and Ireland business, while group sales were up 7.0% fo the year.
Speaking during a media briefing, Murphy said that the group's Central Europe operations had "less upside to go after" when the pandemic hit, due to both the structure of the marketplace and changes to legislation.
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