UK: Signs of recovery at Tesco
Recent sales growth of 3.4% is significantly higher than the growth figures just one month ago, which were just 0.7%.
Tesco's sales have come under pressure this year, after it received its first profit warning in over 20 years. CEO Philip Clarke launched a fightback in response to this, injecting £1 billion into the business to cover extra staffing costs, store refurbishments and increasing special offers to follow the discount trend.
The company is not out of the woods yet, however, as rival chains, Asda and Sainsburys also showed good growth signs - 6.2% and 4.6% respectively.
Source: google.com
