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Daily Telegraph: "Tesco unveils £1bn revamp after drop in UK profits"

Link to Daily Telegraph
(picture of Brent Cross Tesco)

"Philip Clarke, Tesco chief executive, said that it would cut the company’s capital expenditure from £3.8bn a year to £3.3bn this year, to fund a full 'refresh' programme in Britain, with 430 of its largest supermarkets given a revamp this year.

"It said trial stores had already used less garish signs, and 'warmer colours, better lighting'. It has already announced a revamp of its £1bn Value range of low-priced food, and put its advertising contract out to tender."

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