It appears that one company at least is still doing well despite the recession. Tesco have recently announced record profits of £3 billion, that’s a rise of 10% since last year. It is estimated that the company currently takes more than £1 billion a weeks and profits are around £8.6 million a day. Tesco bosses say that the company is thriving because Tesco attracts customers with price cuts and discounts. Despite this claim research by mysupermarket.co.uk has shown that a basket of staple food costs 9% more than it did this time last year. As prices go up there appears to be evidence that stores are taking an large percentage of shoppers money. The big supermarkets are also accused of boosting their profits by squeezing suppliers.