As many retailers face into turbulent trading conditions on home soil, two of Britain’s finest have made headlines with their international operations today.
Tesco, which has sold off a large chunk of its global businesses after shedding its Korean Homeplus arm and the Turkish Kipa division from its portfolio, is restructuring its international leadership team to better focus on core overseas markets.
The grocer’s international boss Trevor Masters is stepping down after almost four decades with the business, as his role is divided into two new executive positions.
UK chief operating officer Tony Hoggett will become chief executive for Asia, while Matt Simister – one of the execs previously suspended in the wake of the accounting scandal – will head up its Central European arm.
While Tesco repositions its leadership team for growth in those two markets, The White Company is stepping up its plans to crack America.
The fashion and homewares retailer will open its first US store on New York’s Fifth Avenue, near the famous Flatiron Building, with plans to open further shops in malls across New York State, New Jersey and Connecticut.
Elsewhere today, retail parks have seemingly gone from hero to zero after suffering a “steep” decline in footfall last month, while Asda has axed its range of diet ready meals following a dispute with Slimming World.
Quote of the day
“Increasing uncertainty arising from the imminent triggering of Article 50 has certainly started to have an impact on purchasing behaviour, the types of destinations shoppers are visiting and how they spend their money.”
– Springboard marketing and insights director Diane Wehrle
Today in numbers
The year-on-year decline in footfall suffered by retail park locations in February.
The number of years Trevor Masters will have spent at Tesco by the time he exits the grocer in May.
Sofa and floorings specialist ScS takes centre stage as the retailer unveils its interim results.
Luke Tugby, head of content
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