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The case highlights the approach of implementing the ?Steering Wheel' strategy in Tesco and the benefits reaped by the company after implementation.
On April 13, 2005, the UK-based Tesco Plc., a leading retailer in the UK, announced its annual financial results for the fiscal 2004- 05. For the fiscal ending February 2005, Tesco reported sales of ?33.97 billion and profits of ?2 billion. It was the first time that a retailing company in the UK had achieved profits of ?2 billion. For the fiscal 2003-04, Tesco had recorded revenues of ?30.81 billion and profits of ?1.6 billion, a year ? over ? year growth of 20...
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