Last week UK retailer Tesco, ranked number 3 in the world, reported a sales increase by +7.4% to 72 billion pounds. At the same time ist profit increased by 5.2% to almost 3.9 billion pounds.

Still ist CEO Phlip Clark acknowledged the problems the company is facing, mostly in ist British home market:

 

"Whilst our International business is delivering excellent growth, contributing £1.1 billion of profit to the Group, we fully recognise that we need to raise our game in the UK. As a result, we are committing over £1 billion to recruit more staff giving improved service in-store; refreshed stores that are better and easier places to shop; lower prices and even more value from an improved product range.“

Let´s wait and see if and when Tesco will be fully back on the success track which it has lost about 12 months ago as a result of severe under-investments.

Best regards,

Andreas von der Heydt
http://www.consumergoodsclub.com