Supermarket deepens existing measures and forecasts lower profit for year amid price war with rivalsTesco has said it plans to slash a further £500m in costs, as the supermarket chain tries to cushion the blow of Rachel Reeves’s tax increases and invest in fighting a price war with rivals.Britain’s biggest grocery retailer said on Thursday it was deepening an existing drive to cut costs to help offset higher operating costs, as well as the £235m increase in its national insurance contributions (NICs) as a result of changes made by the chancellor. Continue reading…
Source link : https://www.theguardian.com/business/2025/apr/10/tesco-plans-to-cut-further-500m-in-costs-to-help-offset-rachel-reeves-tax-rises
Author : Kalyeena Makortoff
Publish date : 2025-04-10 07:45:00
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Tesco to cut further £500m in costs to help offset Reeves’s tax rises
