Supermarket chain has quietly got its groove back to grab even more of shoppers’ spending this year
R
each into your pocket and you will probably find evidence of Tesco. Whether it is a Clubcard, mobile phone or just a receipt from one of its 3,000 stores, the UK’s biggest retailer is engrained in everyday British life.
As its chief executive, Ken Murphy, proudly proclaimed this month, the supermarket chain has grabbed even more of our spending this year, landing almost a third of all grocery sales and receiving more than £1 in every £10 spent in UK retail. Data released this week showed Tesco’s sales growth outgunning its traditional rivals.
The retailer’s resurgence represents a remarkable turnaround for a business whose relentless growth across Britain through the 1990s and early 2000s was abruptly curtailed as management became too focused on overseas expansion and profits over service.
