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Tesco profits 'could lead to new jobs'

Published: Tuesday, 28 April 2009   Category: Retail

The head of retail at chartered accountants BDO Stoy Hayward has said that Tesco's recently-announced profits could be a boon for those looking for jobs at the moment, including graduates.

Despite the recession, the supermarket giant announced on Wednesday (April 22nd) annual pre-tax profits of £3.13 billion for 2008, a ten per cent increase on the previous year.

Rupert Eastell of BDO Stoy Hayward has said that this could translate into a creation of jobs for those, such as graduates, looking for employment during the recession as the company moves into sectors such as banking.

Mr Eastell said: "The increase in sales is likely to lead to an increase in employment levels, as Tesco is so clever at doing things efficiently that the number of jobs will grow as the business grows."

Recently, more than 80 major retailers gathered at a conference to encourage others to utilise the wealth of talent that can be harnessed through apprenticeships.


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