Retail in Asia

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Devil is in the detail for Tesco turnaround

Tesco’s boss is keeping to the belief that "retail is detail" to revive the world number three grocer’s performance, but while his strategy was well received, the former shelf-stacker has less than two years to prove he is right.

CEO Phil Clarke unveiled a GBP1 billion (USD1.61b) plan earlier to improve the look and feel of Tesco stores, offer better quality and more products, hire extra staff and train them to be more friendly in order to stop market share being eaten away by fiercely competitive rivals in the UK.

Last month, Clarke jettisoned the head of the UK operation, assumed his duties and is now directly in the firing line if his plans fail to halt a slide in sales.