Jury still out on Tesco's turnaround

Like-for-like (LFL) sales in the UK fell for the third quarter in succession at Tesco but the supermarket giant maintained that it is making steady progress with its 'Building a Better Tesco' project.

Like-for-like (LFL) sales in the UK fell for the third quarter in succession at Tesco but the supermarket giant maintained that it is making steady progress with its 'Building a Better Tesco' project.

"Our customers are seeing the evidence of the changes we're making and they're telling us they like what they see," maintained Philip Clarke, Tesco's Chief Executive, as he hailed a robust performance by the group despite subdued consumer confidence in all of its markets.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.