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Tesco's annual report showed CEO Ken Murphy was paid £9.93m in the year to February 24 2024, up from £4.44m in 2022/23

Tesco CEO's annual pay package doubles to £10m

The chief executive of Tesco saw his pay package more than double to almost £10m in its 2023/24 financial year, a period when millions of its customers battled a cost of living crisis.

Business • 15 May 24

Tesco made £2.76 billion in the year to February 24 2024, up from £2.49 billion made the previous year

Tesco eyes profit rise as consumer sentiment improves

Tesco has forecast a further increase in profit in its new financial year as strong demand and new customers helped it to post an 11% jump in 2023/24.

Business • 10 Apr 24

Tesco said its group sales, excluding VAT sales tax and fuel, rose 8.9% to £30.7 billion
in the first half of the year

Tesco ups full year outlook on stronger H1 profits

Tesco has today raised its profit guidance for the year as it reported a better-than-expected 13.5% rise in first half core profit and signalled that food inflation would continue to fall.

Business • 04 Oct 23

Tesco CEO Ken Murphy said its customers had faced an 'incredibly tough year' as the cost of living soared over recent months

Tesco's annual profit halves as inflation bites

Supermarket giant Tesco saw its profit slump last year before tax as the business faced "unprecedented" rises in the prices that its suppliers were charging.

Business • 13 Apr 23

Tesco said it was maintaining its full-year profit guidance despite reporting a fall in UK and Irish sales in its latest quarter

Tesco sees changing customer behaviour due to inflation

Supermarket group Tesco said it was seeing early indications of changing customer behaviour due to surging inflationary pressures that had made the market environment "incredibly challenging".

Business • 17 Jun 22

Tesco CEO Ken Murphy's bumper total pay deal was 224 times the overall pay of the median member of staff at the supermarket group

Tesco CEO got £4.74m pay packet last year

The boss of Tesco received a £4.74m pay packet for the past year, the supermarket group has revealed in its annual report.

Business • 13 May 22

Natasha Adams is Tesco's current Chief People Officer and will replace Kari Daniels in the top job at Tesco Ireland

Tesco Ireland names Adams as its new boss

Tesco Ireland boss Kari Daniels is to leave the company in April.

Business • 03 Feb 22

Tesco's sales growth slows in latest quarter

Tesco has reported a sharp slowdown in underlying sales growth in its first quarter, reflecting a tough comparison with the same quarter last year when the world was in the grip of the first Covid-19 lockdown.

Business • 18 Jun 21

Former Tesco CEO Dave Lewis left the supermarket giant last year

Former Tesco CEO Lewis leaves with £1.6m pay packet

Former Tesco boss Dave Lewis walked away from the supermarket giant with a £1.6m pay packet last year, the group's annual report has revealed.

Business • 18 May 21

Tesco said it saw 'exceptionally strong' sales during the Covid-19 pandemic

Covid wipes out 20% of Tesco's profit but sales surge

Retailer Tesco has today reported a 20% drop in full-year pretax profit as the cost of adapting the business for a pandemic wiped out its "exceptionally strong" sales.

Business • 14 Apr 21

Tesco commits to healthy food sales target

Tesco has committed to increase its sales of healthy food to 65% of total sales by 2025 following pressure from some shareholders to set targets.

Business • 05 Mar 21

Tesco said today that like-for-like sales over the Christmas period in its Irish stores grew by 12.7% (Pic: RollingNews.ie)

Tesco sees limited Brexit disruption to Irish supplies

Tesco has experienced some disruption to supplies, particularly to the island of Ireland, since a post-Brexit trade deal with the European Union kicked in on January 1, its chief executive Ken Murphy said.

Business • 14 Jan 21

UK supermarket groups have seen sales soar during the pandemic

More UK supermarkets waive tax relief

Sainsbury's, Asda, Aldi and B&M will forgo UK property tax relief during the pandemic, following rivals Tesco and Morrisons and taking the total recouped by the UK government from retailers to £1.8 billion.

Business • 04 Dec 20

Tesco boss calls for greater post-Brexit border clarity

Tesco has called on the British government to give greater clarity about how it will move goods across borders after January 1, saying it would be the biggest Brexit challenge, not food price inflation.

Business • 03 Dec 20

Tesco said a jump in sales due to the Covid-19 pandemic was more than outweighed by higher costs and losses at Tesco Bank

New Tesco boss sticks with strategy despite profit drop

Tesco has today reported a 15.6% fall in core profit, with a jump in sales due to the Covid-19 pandemic more than outweighed by higher costs and losses at Tesco Bank.

Business • 07 Oct 20

Dave Lewis steps down tomorrow after six years as Tesco CEO

Lewis checks out at Tesco amid challenges for new CEO

Dave Lewis steps down tomorrow after six years as Tesco chief executive, during which he got Britain's biggest retailer back on track after an accounting crisis, leaving new challenges for his successor Ken Murphy.

Business • 29 Sep 20

Charles Wilson, the executive director who leads Tesco's Booker wholesale business, will retire next year

Tesco's Booker boss follows CEO in leaving retailer

Tesco said Charles Wilson, the executive director who leads its Booker wholesale business, will retire in February next year, joining the CEO and finance chief in announcing their departures from Britain's biggest retailer.

Business • 07 Sep 20

Tesco CEO Dave Lewis had agreed to extend his tenure until September 30

Tesco forced to wait until October for new boss

Retailer Tesco will have to wait until October before its new boss can start after his former employer Walgreens Boots Alliance insisted he see out a non-compete agreement.

Business • 03 Feb 20

Irishman and former Boots executive Ken Murphy will take up the reins at Tesco next year

Tesco's new boss has something to build on

When Irishman Ken Murphy takes over next year as CEO of Tesco, he will inherit something current boss Dave Lewis did not have the luxury of when he joined in 2014 - a strategy and a stable business.

Business • 04 Oct 19

Tesco's chief executive Dave Lewis said he plans to step down next summer

Tesco CEO plans to step down next summer

Tesco said today that its chief executive Dave Lewis will step down next summer and be succeeded by Ken Murphy, an executive at Walgreens Boots Alliance.

Business • 02 Oct 19

Ken Murphy