TESCO boss Sir Terry Leahy, above, is set to defy the credit crunch by revealing that till takings have smashed the £1 billion-a-week barrier.
It will be the first time such huge takings have been registered by a UK firm. Tesco is expected to announce on Tuesday that turnover soared from just under £52 billion to a record £54 billion last year, while profits are likely to thrust past £3 billion, also an all-time high.The milestone comes 30 years after Tesco’s revenues first topped £1 billion-a- year. Since then the company has forged ahead of Sainsbury’s to become Britain’s biggest retailer. It is also the world’s third largest shopping chain. Tesco – slogan “Every Little Helps” – has 2,115 stores and employs more than 280,000 in Britain alone. It also has 476 branches in Thailand, 301 in Poland, 137 in South Korea and 125 in Japan.
But Helen Rimmer, of the Tescopoly campaign website, said: “Tesco’s growth has come at the expense of vibrant town centres, farmers and the environment.”