There are gloomy days behind retail giant Tesco Plc and there are dismal days ahead of it as the company saw its sales slump around 1 percent on a like-for-like basis in the quarter ended May 25. But not only UK sales made Tesco dizzy as it had to face facts that its world expansion was undeniably challenged as well. With the ongoing £1 billion turnaround plan, Tesco Plc has to get a grip on itself if it wants to see changes.
On 5th of December, Philip Clarke, chief executive officer at Tesco PLC, is expected to announce the company’s withdrawal from the US market. The decision comes as Tesco PLC struggles with its loss-making operations. The third-quarter results, which are also to be announced on the 5th of December, are speculated to be a prelude to the new strategy aimed at boosting Tesco PLC’s operations.