Tesco's statutory operating profit in the UK and Ireland 2014/15-2023/24

Tesco's statutory operating profit in the United Kingdom and Ireland was approximately 2.69 billion British pounds in the 2023/24 financial year. This was an increase compared to the previous financial year. Over the period in consideration, the company recovered from a heavy operating loss of over five billion British pounds in 2014/15 

Tesco PLC in profile

Originally founded in 1919 by Jack Cohen in London, Tesco PLC experienced decades of continuous growth and expansion to become the leading grocery retailer in the United Kingdom in 2022. Over the years, Tesco diversified its product portfolio to include books, clothing, home appliances, and financial services. Tesco has a global workforce of more than 336,000 employees and a store count exceeding 4,800 worldwide.

Tesco.com

Tesco was among the trailblazers in e-commerce when the company started an online shopping service named ‘Tesco Direct’ as early as 1997. Today, the online platform tesco.com, which was launched in 2000, offers customers a broad range of products and services ranging from grocery and clothing to online banking services. The e-commerce net sales of tesco.com increased from 4.74 billion U.S. dollars in 2014 to more than seven billion dollars in 2023. The most significant year-on-year sales growth in tesco.com’s sales occurred between 2019 and 2020, as the coronavirus pandemic triggered a sharp increase in online grocery shopping across the world.