Tesco hit by £533m Covid costs but sales jump during pandemic

Supermarket’s bank puts aside more money for bad debts as Ken Murphy comes in as CEO

Tesco spent more than £500m dealing with the coronavirus pandemic over the last six months and has warned of mounting losses at its bank as the deteriorating economy takes its toll on consumers’ finances.

Britain’s biggest supermarket chain said UK food sales had surged more than 9% in the six months to 29 August. However, the bill for extra safety measures in its stores hit £533m.

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