date:Apr 24, 2013
company boss Philip Clarke announced the decision to open fewer of the giant supermarkets that have defined Tesco's relentless expansion over the last two decades, scrapping 100 major store developments in favour of focusing on online sales.
The space race is over, Philip Dorgan, an analyst at Panmure Gordon in London, said in a note.
The focus is shifting to online and small store investment.