Assess Wheter a Business Meets Its Aims and Objectives on Uk's Biggest Supermarket Chain
Assess whether a business meets its aims and objectives D1
In this assessment I will look at Tesco and how its aims and objectives are being met or not for 2012, the following assessment has taken information from Tescos own website on its financial and annual review report. 2012 has been a challenging year for the leading supermarkets due to high fuel costs, high taxes, real incomes not growing so people are adjusting their shopping habits.
The UK's biggest supermarket chain, Tesco, has reported its first fall in profits since 1994.
Pre-tax profit for the six months to 25 August came in at £1.7bn, down 11.6% from the same period last year.
The fall in profits was largely due to spending on the retailer's £1bn investment programme to improve its UK stores, which was announced by chief executive Philip Clarke in April.
Mr Clarke put that down to the investment programme, which has already put 8,000 additional staff in existing stores at a cost of £200m a year.
He also said that the Everyday Value range was growing fast due to the pressure being felt by customers.
"They tell us they're resigned that this is the new norm. They don't have great expectations that things are going to improve in the short term,"
Tesco is investing £1bn in its UK stores and the money is beginning to show, although little of it is revolutionary.
Modest profit growth is observed through 2011/2012 due to challenging economic conditions, strong international growth at the offset of reduction in UK profits. Tesco group sales increased by 7.4% to £72bn, group trading profit up 1.3% from previous year and profit before tax up to £3.9bn an increase of 1.6%. A share price of around 15p an increase of 2.1% from last year. In Europe, the retailer said it had been hit by eurozone austerity measures as well as the weakening euro, which meant the value of its sales had fallen 6.8% in the half.
The UK business did not meet their expected targets and as a result have accelerated their plan
In this assessment I will look at Tesco and how its aims and objectives are being met or not for 2012, the following assessment has taken information from Tescos own website on its financial and annual review report. 2012 has been a challenging year for the leading supermarkets due to high fuel costs, high taxes, real incomes not growing so people are adjusting their shopping habits.
The UK's biggest supermarket chain, Tesco, has reported its first fall in profits since 1994.
Pre-tax profit for the six months to 25 August came in at £1.7bn, down 11.6% from the same period last year.
The fall in profits was largely due to spending on the retailer's £1bn investment programme to improve its UK stores, which was announced by chief executive Philip Clarke in April.
Mr Clarke put that down to the investment programme, which has already put 8,000 additional staff in existing stores at a cost of £200m a year.
He also said that the Everyday Value range was growing fast due to the pressure being felt by customers.
"They tell us they're resigned that this is the new norm. They don't have great expectations that things are going to improve in the short term,"
Tesco is investing £1bn in its UK stores and the money is beginning to show, although little of it is revolutionary.
Modest profit growth is observed through 2011/2012 due to challenging economic conditions, strong international growth at the offset of reduction in UK profits. Tesco group sales increased by 7.4% to £72bn, group trading profit up 1.3% from previous year and profit before tax up to £3.9bn an increase of 1.6%. A share price of around 15p an increase of 2.1% from last year. In Europe, the retailer said it had been hit by eurozone austerity measures as well as the weakening euro, which meant the value of its sales had fallen 6.8% in the half.
The UK business did not meet their expected targets and as a result have accelerated their plan