Tesco Back In The Black

UK retailer Tesco's local Czech subsidiary recorded profits of CZK816mn (US$40.1mn) for the 2007 financial year, ending in February 2008. This is an impressive comeback following losses of CZK156mn (US$6.8mn) that were recorded for 2006. Sales for 2007 were up by CZK6.36bn (US$312.8mn) to reach CZK40.96bn (US$2bn), as the firm opened 16 new outlets. Given the difficult environment in which Tesco has been operating, these figures indicate that the company is well on its way to recovery in the Czech Republic, although it will continue to face tough economic times

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