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More stores planned as Tesco sales hit [euro]1.9bn.
(From Irish Independent)
SUPERMARKET group Tesco plans to create between 500 and 600 jobs asit opens more stores and expands existing outlets in Ireland.
The retailer yesterday announced sales in its 83 stores had risen by 9.5pc to [euro]1.9bn for the year ending February 2004.
When figures for additional sales from the new outlets and extensions are excluded, theturnover grew by a more modest 4pc.
This was in a market where food prices fell as competition with discount retailers Aldi andLidl intensified.
While the Irish operation does not disclose its profit margin, chief executive Gordon Fryett said it had remained static. He added that generally the food retailing companies had margins of between 5pc to 6pc. The company plans to expand its sales of petrol by adding pumps at Clarehall at the Malahide Road and Sandyford, both in Dublin, and inMaynooth, Co Kildare.
In the past year the company has added 200,000 sq ft of extra selling space to stores, anincrease of 8pc.
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