One billion pound revival plan for Tesco

Tesco, the world’s third biggest retailers announced that the plan is ready to overhaul its underperforming (trading profit fell 1 percent) UK business. Chief executive Philip Clarke told reporters that they would spend GBP 1 billion to improve the shopping experience in Tesco stores. Tesco promises a new look for stores, more staff, lower prices and more added values to customers. For instance they will recruit 8,000 people (which costs GBP 200 million) for fresh products departments only, in order to improve the level of service.