Tesco’s interim results today gave new boss Ken Murphy his first opportunity to address the City and experience the scrutiny that comes with being chief executive of Britain’s biggest retailer.
The former Walgreens Boots Alliance executive joins the supermarket giant at a time when its core food business is flying. Pre-tax profits surged 28% during the 26 weeks to August 29, as group sales climbed 6.8% to £26.7bn.
The numbers encapsulate the scale of the turnaround overseen by Murphy’s predecessor, Dave Lewis – and the business the Irishman inherits is in a very different place to the one Lewis was parachuted into six years ago.
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