Has Tesco fallen on the same spear as Walmart?
A victim of their own success
It has been an unprecedented British success story with record profits and global expansion. So why is Tesco under increasing fire over the way it does business? The growth was so rapid that few could fully comprehend it.
Then Sir Terry Leahy, the chief executive, nailed it with eye-catching precision. Tesco accounts for £1 of every £8 spent at British shops, he told a room of analysts in September 2003.
Pithy, stark and a staggering measure of dominance, it was a statistic that would be quoted endlessly in the years that followed. More on this story
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