In the UK Tesco is cutting back its investment in opening stores and instead concentrating on expanding its multichannel capabilities. For Tesco, this means more than strengthening its online presence. Rather, the UK's largest retailer...
Reporting a whopping 31% increase in its Christmas sales and the busiest ever festive period since opening in the UK, Aldi was no stranger to celebration last week. However, the discount giant is likely to see its major rivals, smarting from losing share, up their game in 2014. Hannah Abdulla reports.
Tesco this morning (9 January) revealed a disappointing drop in like-for-like sales over Christmas and New Year. The retailer attributed the decline in sales to "further weakness in the UK grocery market" and having a "tougher comparative" versus last year. The results had a negative impact on share recommendations, although some analysts highlighted areas for optimism, including Tesco's work online.
Tesco has again reported declines in sales at home and abroad as it outlined how it traded during Christmas and New Year.
This coming March, Philip Clarke will have been Tesco CEO for three years. It has been a challenging period and, at least in the short term, there is unlikely to be any let up.
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