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Wednesday April 23rd 2014

Supermarket giant Tescos is struggling

Tesco, who’s stores have without doubt put a lot of smaller stores out of business, has seen sales in the 13 weeks to 26 May were 1.5 per cent lower than the same period last year, although the fall was less severe than the 1.6 per cent drop for the preceding quarter.

Tescos have been trying to break into financial markets too such as travel insurance over 75 85 markets that cater for senior holidaymakers.

Tesco’s management, headed by new chief executive Phil Clarke, is struggling to re-energise the retailer, the UK’s largest, which boasts 2,800 stores across the UK, following the firm’s first profit warning in 20 years in January.