Tesco said today (15 April) that it was on track to save two billion carrier bags in the next financial year and continued to roll out front-of-pack GDA nutritional labelling.
Tesco said it would take the reduction of single-use plastic bags "to the next level" by focusing on "incentives" rather than penalties, and would also launch the first phase of its carbon label trial with the Carbon Trust in the coming weeks.
The UK's largest supermarket said it aimed to make efficiency savings of around £450m in the current year across the supply chain through improved shelf-ready packaging, increased vehicle utilisation and by introducing "more productive" working methods in depots and stores.
Tesco reported an 11.8% rise in pre-tax profits for 2007 to £2.85bn on group sales of £51.8bn, up 11%.
Sales in the UK increased by 6.7% to £37.9bn, with like-for-like sales excluding petrol rising by 3.5%. The supermarket now has 1,608 UK stores.
Tesco said it had contended with "unseasonal" summer weather, "more subdued" customer demand in some non-food product categories, and "recovering" competitors, but increased productivity and "good expense control" had enabled it to maintain "solid margins". UK trading profit rose 7.1% to £2.05m.
Tesco chief executive Terry Leahy said: "We begin the new financial year confidently – with a good start in the UK, excellent progress in our established international markets and promising early performance from our investments in future growth, particularly in the US, China and Turkey."
The supermarket will create 30,000 new jobs this year.
Source: packagingnews
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