Jim Armitage: Tesco regains focus with Harris + Hoole saleComments Off on Jim Armitage: Tesco regains focus with Harris + Hoole sale
So ends Chapter Two of the Book of Dave.
Tesco’s sale of Harris + Hoole to Caffe Nero, coupled with a second quarter of (admittedly tiny) sales growth marks decent progress and a continuation of the focus and rigour Dave Lewis has brought to this limping giant.
Harris + Hoole may seem like small beer but it’s the last in a raft of disposals freeing managers to focus relentlessly on what needs most work — flogging food to British shoppers.
There was nothing wrong with having other brands in Tesco’s big stores, but why try and run the businesses yourself when you can rent out the space to the specialists?
Now the page-turning stuff of staunching the accounting scandal and selling businesses is over, what does Chapter Three hold in store?
Don’t expect it to be as exciting: page after page of dull but important efficiency measures loom. These are vital to deliver higher sales volumes and low prices in the fight against enemies old and new.
There’ll be some racy subplots along the way (a thundering fine from the SFO perhaps) but Tesco’s recovery is a War and Peace-style saga that will takes years to unfold.
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