Tesco’s overseas empire is in retreat – but shareholders have no complaints
From the article
The supermarket’s central Europe stores may be sold as it doubles down on domestic dominance A couple of decades ago, Tesco was going to bestride the globe. Little ol’ UK, plus Ireland, didn’t offer enough room for the country’s biggest supermarket chain to expand, ran a theory that was encouraged from outside by complaints about a “Tescopoly”. “We are on the threshold of becoming one of the few successful international retailers,” declared Sir Terry Leahy , then the chief executive, in 2007, confidently predicting that half the group’s revenues would come from overseas within a decade. Continue reading...
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