Positive signs at Tesco as turnaround takes shape

Price cuts and better service helped Tesco to win back shoppers in the first quarter of its financial year, Britain’s biggest retailer said yesterday, suggesting new boss Dave Lewis’s turnaround plan is starting to bear fruit.

Tesco has had a horrendous 18 months, with competition from fast-growing discounters Aldi and Lidl compounded by an accounting scandal that drove it to a record annual loss.

But former Unilever executive Lewis has cut prices on popular grocery brands, improved product availability and put more staff in store.