Tesco reports rise in pretax earnings, plans for more jobs

Article Abstract:

Tesco PLC posted an approximately 8% improvement in its pretax profits for the fiscal 1998 year. The company also said that its expansion program worldwide would lead to the creation of up to 20,000 new jobs in 1999. Tesco posted a rise in profits to 881 million pound sterling ($1.42 billion) for the 52-week period ending on February 27. During the year-earlier period, Tesco posted 817 million pound sterling in profits.

Comment:

Posts approximately 8% improvement in its pretax profits for fiscal 1998 year

Supermarkets and Other Grocery (except Convenience) Stores, Supermarkets, Tesco PLC

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Allied Domecq issues profit warning

Article Abstract:

The announcement by UK pub company Allied Domecq PLC that its 1998 profits will fall short of analysts estimates has caused concern about the overall market sector. Analysts had expected pub sales to strengthen but they have remained surprisingly weak and analysts have begun downgrading their estimates for similar companies. The price of Allied Domecq's fell sharply after the earnings warning.

Drinking places, Drinking Places (Alcoholic Beverages), Bars (Drinking establishments), Alcoholic beverage industry, Allied-Domecq PLC

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