Tesco’s Dave Lewis in video interview addresses management shake up speculation September 5, 2014 Seven days into his tenure at Tesco, “Drastic Dave” Lewis has revealed how his “rollercoaster” first week in the new job went in a video posted on the supermarket’s YouTube channel. The former Unilever executive who replaced Philip Clarke said he won't shy away from making a call on management changes but would not make [...]
French unemployment edges higher adding to Hollande’s woes September 4, 2014 The unemployment rate in France has edged higher in another blow to President Hollande’s efforts to reduce jobless rates- one of a variety of economic woes for the French leader. 10.2 per cent of the French population were out of work in the second quarter of this year, compared to 10.1 per cent in the [...]
Diamond Dave Lewis surprises Tesco staff with rare appearance at Birmingham conference September 2, 2014 Twitter was abuzz yesterday with hashtags like #inspired and #TheFutureLooksGreat after the new boss of Tesco paid a surprise visit to a leadership conference in Birmingham. Retail newbie Dave Lewis, who has jumped in to save Tesco, made news headlines after he wrote to his 500,000 employees asking them to email him with ideas [...]
London Report: Mining shares lift FTSE despite doubt over ECB September 2, 2014 BRITAIN’S top share index steadied near a two-month high yesterday, with some caution before the European Central Bank’s policy meeting tomorrow offsetting a rally in miners prompted by stronger metals prices. The blue-chip FTSE 100 index ended 0.06 per cent higher at 6,829.17 points after rising up to 6,849.28 points, the highest level since early [...]
Dave Lewis in plea to staff: Tell me how to fix Tesco September 1, 2014 New Tesco boss Dave Lewis parachuted into the supermarket giant yesterday by urging his half a million staff to email suggestions to help fix the troubled retailer. Marking his first day in charge, Lewis – who stepped up to take the reins from departing boss Phil Clarke a month earlier than planned – penned a [...]
Tesco targets Walkie Talkie workers September 1, 2014 Tesco launched a new flagship store next to the City’s iconic Walkie Talkie building yesterday, in a bid to capitalise on an expected 8,000 thousand-strong workforce set to take over the building. The store, which houses a new Tesco-backed brand Fred’s Food Construction, is based on a New York style deli counter.
Hot sauce: Tesco launches new sandwich store to fight Pret A Manger September 1, 2014 Another day, another sandwich bar opens. So what's new? Well this time, it's Tesco which is launching a brand new sandwich shop format – selling premium subs and hot breakfast to City workers. This morning the supermarket opened its first small format sandwich store, conveniently located a stone's throw away from City AM's [...]
“Dear colleagues”: Dave Lewis’ letter to Tesco staff on his first day as chief executive September 1, 2014 On his first day at Tesco, new chief executive Dave Lewis has written a letter to staff outlining his initial plans for the supermarket. Lewis introduced himself to Tesco’s more than half-a-million staff, telling them he would be doing “a lot of listening,” to staff, customers, shareholders and investment analysts, and the most important thing [...]
Tesco share price continues slump after Harris Associates cuts stake from 3pc to 1pc September 1, 2014 Tesco's share price continued to slump, down almost two per cent on Friday’s losses this morning, after one of Tesco’s largest stakeholders revealed it had cut its investment in the supermarket by two thirds. Investors failed to be reassured on Dave Lewis’ first day on as chief executive after it was revealed the US firm [...]
Three charts showing the challenges facing new Tesco boss Dave Lewis September 1, 2014 New Tesco chief executive Dave Lewis starts his job today, a month earlier than originally anticipated. The supermarket is clearly desperate: on Friday it issued a profit warning saying it expected full-year profits to hit £2.4bn, rather than the £2.8bn expected. The company has been battling against the increasing might of discounters Aldi and Lidl, [...]