Concerns persist as Tesco tackles UK problems Archives - Just Food
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Concerns persist as Tesco tackles UK problems

What the analysts say: City view of Tesco FY and turnaround plan

What the analysts say: City view of Tesco FY and turnaround plan

Tesco today (18 April) said that it would spend GBP1bn (US$1.55bn) in a bid to revitalise its domestic business as it confirmed that full-year like-for-like sales and profits in the UK have dropped. Nevertheless, a strong international performance enabled the UK's largest retailer to book a 1.6% increase in pre-tax profit. While the disappointing UK performance held no surprises, details on the turnaround plan have been broadly welcomed by the market.

Comment: Tesco faces bumpy road to UK recovery

Comment: Tesco faces bumpy road to UK recovery

A year ago, when Philip Clarke took the reins as chief executive of Tesco, one City analyst told just-food that the retailer's new boss was likely to only have to "fine-tune" the business than "rebuild the engine".