Ex-Tesco chief Terry Leahy says Woolworths must put shoppers before shareholders

 In Australia, NewZealand, Woolworths
Former Tesco chief executive Sir Terry Leahy says Woolworths may have to put the interests of customers ahead of shareholders and forgo earnings growth to win back loyalty, but should not attempt to compete on price alone with discounter Aldi.
Leahy, who presided over 14 years of sales and profit growth at Tesco, turning it into the largest and most profitable retailer in the UK and the second largest in the world, has given the thumbs-up to Woolworths’ plan to regain market share lost to Coles and Aldi by investing cost savings into lower prices, service and innovation.  MSN – Read more…

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