Youngmafbog, I beg to differ - whilst their foreign ventures into the US and China have not been good, their problem is that they have over-invested in out-of-town stores and, even more fundamentally, lost their way in the store. The current design is terrible and underperforming, walk into any Tescos and there in the middle, the prime real estate, is clothing and household items like cookware and stationery and it's a disaster, there's hardly anyone in there and the return on the dirt as they say (revenue/margins/cashflow per m2) must be appalling. Then, on the food shelves, many of the stores are squeezed in space and do not have the number of items or brands that say a Sainsbury's, Waitrose or Aldi/Lidl have.
Complete and utter shambles IMO and I am ready to offer my retail marketing advice, if they so wish.