New Tesco boss sticks with strategy despite profit slide

Tesco's new boss Ken Murphy poses outside a Tesco store. - Reuters

LONDON: The new boss of Tesco, Britain’s biggest retailer by sales, has backed the strategy of his predecessor despite a drop in first-half core profit as Covid-19 costs and losses at Tesco bank outweighed a surge in sales.

Ken Murphy, formerly of healthcare group Walgreens Boots Alliance, succeeded Dave Lewis on Oct 1.