Unite challenges Tesco over profits and executive pay [Yahoo! Finance]
TESCO PLC S/ADR (TSCDY)
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Source: Yahoo! Finance
The intervention follows Tesco's third-quarter and Christmas trading update, which showed strong performance during the key retail period. Unite argues that the gains highlight a widening gap between corporate rewards at the top of the business and the financial strain facing frontline supermarket workers and consumers during the UK cost of living crisis. Food prices in the UK have increased by around 40 per cent over the past four years, according to industry and government data. Unite says this has placed sustained pressure on household budgets, including those of Tesco's own staff. During the same period, Tesco's operating profit rose sharply. Company figures show operating profit increased by about 72 per cent between the 2020/21 and 2024/25 financial years. Unite claims this contrast raises questions about how the benefits of improved trading performance are being distributed. Responding to the results, Unite general secretary Sharon Graham said: “While workers and the
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