Tesco Pins UK Turnaround On Price Cuts And Store Revamps

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Tesco Pins UK Turnaround On Price Cuts And Store Revamps

by Wochit 0:55 mins

Tesco Pins UK Turnaround On Price Cuts And Store Revamps

by Wochit 0:55 mins

Britain's Tesco, the world's third-largest retailer, is to focus on cheaper pricing as it relaxes its view on operating margins and steps up its store revamp program and investment in online and convenience channels. Outlining his plans at an investor and analyst seminar on Tuesday, Chief Executive Philip Clarke said the measures accelerate a turnaround plan aimed at countering increased competition in the British retail market, but which has so far failed to boost its languishing sales. Clarke explained "This doesn't signal a need for a new strategy, simply to go faster."

Wochit

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