Tesco CEO: Central Europe Business 'Back To Profitability' Following Store Closures
The chief executive of Tesco, Dave Lewis, has said that the group's decision to close stores across several Central European markets, as well as streamline its offering, has enabled it to achieve profitability in the region.
According to Tesco's full-year results, its Central Europe operations, located in Poland, Hungary, Czech Republic and Slovakia, posted a 56.3% increase in operating profit, to £186 million (€215.8 million), as a result of the group's efforts.
Commenting on the store closures, Lewis said, "It's part of the transformation that Matt and the team have been on for two years; we have announced these store closures, and executed them.
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