date:Feb 26, 2014
, resulting in lower overall capital expenditure.
Having given guidance for net new UK space of about 1.4 million square feet for 2013/14, it plans a further reduction to 0.7 million sq ft in 2014/15.
Group capital expenditure will drop to no more than 2.5 billion pounds a year, its lowest level for 10 years, for at least the next three financial years. Tesco had previously indicated a figure of 3.2 billion pounds for 2013/14.
Other big European retailers like Carrefour and Metro (MEOG.DE), f