I’m starting to feel sorry for Phil Clarke.
After last Wednesday’s unveiling of Tesco’s worst sales fall for decades, this week was supposed to be a breather for the under-pressure chief executive.
But instead, the woes of the UK’s biggest grocer are back on the front pages (of business sections at least), and it’s all thanks to Clarke’s predecessor.
“As a shareholder, I am very disappointed,” Sir Terry Leahy told Sky News last night. “I know the business will be disappointed and the board will be keen to take whatever action is necessary in order to improve the situation.”
If, as has been suggested on these pages before, Clarke could be the David Moyes of the grocery world, then this is something the Scot never had to deal with in his troubled time at the top of Manchester United.
The camera may have often swung to a pursed-lipped Sir Alex Ferguson in the stands as his once-mighty team was once again humbled, but at least he didn’t go and vent in front of the cameras afterwards.
It’s a shame for Clarke because this was the week when attention should be switching to Tesco’s main rival. Sainsbury’s is in the spotlight tomorrow, and like-for-like first-quarter sales are expected to be down by about 1% (to be fair, an improvement on the previous three months).
Tesco has lots wrong with it, but the sector as a whole is struggling — as today’s figures from the Britain Retail Consortium, revealing the first drop in food spending in the UK since records began in 2008, show.
How Clarke must be wishing the focus would stay on that.
