- Tesco’s total revenues grew 8.6% in the six months to August, it said on Wednesday, thanks to a surge in online shopping during the pandemic.
- In the UK, online sales at the grocery giant nearly doubled in the quarter to August.
- Customers favored Tesco’s smaller, local stores over its larger supermarkets, it said. People are shopping less often — but buying more.
- Tesco’s operating profit fell 4.5% in the first half of the year, reflecting the £533 million ($686 million) it spent on its COVID-19 response, but it posted a 28.7% jump in pre-tax profit to £551 million ($709 million).
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British supermarket giant Tesco has reported rising sales and pre-tax profit, largely thanks to the boom in online grocery shopping during lockdown.
People are shopping less