date:Jun 30, 2014
-Mart Stores Inc.s Asda and Wm Morrison Supermarkets Plc are stepping up competition with measures similar to Tescos.
Tesco must not flinch from plans to improve stores and invest in customer loyalty efforts even as it cuts some prices, Chairman Richard Broadbent said at the meeting.
Sales Decline
Implementing these initiatives has a cost and this has had an impact on short-term performance, compounded by the weak market conditions that are affecting all retailers, he said.
Tescos shares fel