Tesco Boss ‘quits Over Poor Sales’
March 15, 2012 by staff
Tesco Boss ‘quits Over Poor Sales’, The head of Tesco’s UK business is to step down because of poor sales, it was claimed last night. Richard Brasher, 50, who took on the role a year ago, is reported to be leaving later this year.
Philip Clarke, who is currently Tesco’s group chief executive, will then assume responsibility for the chain, according to reports on Sky News.
Tesco, Britain’s biggest retailer, has announced plans to open new stores and create 20,000 jobs over the next two years as it battles back from its first profit warning in living memory.
The dominant force in British retailing for more than a decade, it is tackling a drop in its UK market share that has fallen to levels not seen since 2005.
Tesco recently declared it was planning a shake-up that would see ranges and price discounts tailored to the incomes of local families.
The strategy – spearheaded by Mr Brasher – was designed to breathe life into UK sales after a disastrous fall in Christmas takings.
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