date:Feb 26, 2014
Britain's Tesco (TSCO.L), the world's third-largest retailer, is to cut prices as it relaxes its view on operating margins and steps up its store revamp program and investment in online and convenience channels.
Outlining his plans at an investor and analyst seminar on Tuesday, Chief Executive Philip Clarke said the measures accelerate a turnaround plan aimed at countering increased competition in the British retail market, but which has so far failed to boost its languishing sales.
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