Tesco worth €3.3bn a year to economy, says report

Tesco directly and indirectly benefits the economy to the tune of €3.27bn a year, according to a new report.

The figure was calculated by Indecon Economic Consultants. It takes into account everything from till sales to the economy-wide impact of the company’s expenditure, from raw material spend to transactions with Irish food and goods suppliers.

Earlier this month the British retailer reported one of the biggest annual losses £6.4bn (€9bn) in UK corporate history. Its Irish operations was one of the worst performing divisions, with sales falling by 6.4% to €2.55bn. It recently ceded market leadership to SuperValu.