Michael Murray: Can Tesco finally turn that corner?
Despite an adequate Christmas, the retail giant remains financially stretched
Five years ago, the Tesco juggernaut seemed unstoppable. Its market share in British food retailing passed the 33 per cent mark at its peak. Its margins were the best in the business. Its capacity to negotiate sweetheart deals with property developers was formidable. The company enjoyed an investment grade credit rating and its expansion into Eastern Europe and Asia was powering ahead.
Its first big strategic mistake was its 2007 entry into the ...
