Philip Clarke, CEO of leading U.K. grocery and general merchandise retailer Tesco plc is publicly resisting calls for his resignation following a 6% decline in annual profits and 3% quarterly drop in U.K. same-store sales.
Major British supermarket chain Tesco plc has reportedly been the victim of a data breach. According to CNBC, hackers have gained access to the personal data of more than 2,000 Tesco customers and posted it online.
U.K. retailing giant Tesco PLC could give up its American supermarket venture, Fresh & Easy Neighborhood Market, if the chain continues to disappoint and not make a profit, RetailWeek and other British news organizations reported.
A survey released Thursday said sales growth at Britain's Tesco PLC, the world's third biggest retailer, will outpace its major international rivals -- including Wal-Mart Stores -- in coming years as it expands in Asia, the Associated Press reported.