Tesco puts pressure on rivals with price cuts, improved customer service

London

FOUR months into the job, Tesco boss Dave Lewis has wasted no time imposing a range of price cuts and customer service improvements designed to regain the initiative in a tough market. There are already signs that customers are noticing.

Despite the series of shocks Tesco suffered in the past year, famously prompting billionaire investor Warren Buffett to admit that buying into the stock was a huge mistake, it remains a clear leader in its home market, lending it the clout to squeeze its "Big Four" rivals as well as upstart discounters Aldi and Lidl.