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Tesco's Extreme Makeover: A Phenomenal Tale of Turnaround Success
The early '90s was not a good time for UK grocery chain Tesco. Sales
were falling, profit growth was slowing, the share price was depressed
and discount food retailers from continental Europe were beginning to
enter the UK market. After a cost-cutting program things became even
worse as competitors grew stronger. Drastic measures would be required
to save the organisation in this most cut-throat of industries. But
Tesco transformed itself.
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By theBoxThe early '90s was not a good time for UK grocery chain Tesco. Sales
were falling, profit growth was slowing, the share price was depressed
and discount food retailers from continental Europe were beginning to
enter the UK market. After a cost-cutting program things became even
worse as competitors grew stronger. Drastic measures would be required
to save the organisation in this most cut-throat of industries. But
Tesco transformed itself.
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