Alongside a bumper set of results, Tesco boss Ken Murphy set out his stall for post-pandemic growth. Retail Week analyses his new strategic priorities.
Buoyed by a strong first-half performance, chief executive Ken Murphy today unveiled what he called “the next chapter for Tesco”. Four new strategic priorities: ‘magnetic value for customers’; ‘I love my Tesco Clubcard’; ‘easily the most convenient; and ‘save to invest’.
Tesco’s aim is to generate between £1.4bn and £1.8bn of free cash flow a year. In the 2020 financial year, Tesco generated over £1.5bn in free cash.
“The retail sector is undergoing significant change. Customers are faced with an increasing range of choices as to where, when and how to shop. The competitive environment has materially changed,” said Murphy.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.