Amid a bid to reposition its offer in Southeast Asia, Tesco again saw declining like-for-likes at its Thailand and Malaysia business, but CEO Dave Lewis remained confident the operations are on track. Lewis said Tesco had accelerated planned changes to its Thai operating model, helping to reduce costs and underpinning profit recovery. Good progress had also been made in discussions with suppliers towards a new commercial approach, Lewis said. Tesco Thailand sales slipped by ~1% in Q3, which included the Christmas treading period.
Source: Inside Retail Asia