• CityAM.com reports that Tesco suffered dual blows yesterday - finding out that its UK market share dropped 0.5 percentage points in the last quarter, to 28.6 percent, at the same time as longtime executive Andrew Higginson said that his departure date would be February 27.
As the story notes, “Higginson, who joined the Tesco board in 1997 and played a big part in setting up the firm’s banking arm, said he would quit last year, soon after Philip Clarke took the reins. Graham Pimlott will replace him as chair of Tesco Bank later on 27 February, the firm said yesterday.”
• The Financial Times reports that Tesco plans to refocus its attention on its food business as it looks to re-energize its UK fortunes.
Experts tell FT that “Tesco planned to invest in staff hours, especially in the fresh food departments, notably in fruit and vegetables, meat and the service counters. Fruit and vegetable and meat departments would be given dedicated teams in identifiable uniforms.”
As the story notes, “Higginson, who joined the Tesco board in 1997 and played a big part in setting up the firm’s banking arm, said he would quit last year, soon after Philip Clarke took the reins. Graham Pimlott will replace him as chair of Tesco Bank later on 27 February, the firm said yesterday.”
• The Financial Times reports that Tesco plans to refocus its attention on its food business as it looks to re-energize its UK fortunes.
Experts tell FT that “Tesco planned to invest in staff hours, especially in the fresh food departments, notably in fruit and vegetables, meat and the service counters. Fruit and vegetable and meat departments would be given dedicated teams in identifiable uniforms.”
- KC's View:
