This week Tesco overtook Carrefour to become the world's second-most profitable retailer. And with the Chancellor announcing a basket case Budget a day later, it might seem odd to question one of the enduring success stories of the past New Labour decade. But while The Grocer is an admirer, it's not a fanzine. Picking up on a surprising amount of criticism of Tesco, we've taken the opportunity to investigate.
These are, of course, problems its rivals would love to have, but it's a debate worth having. For as long as I can remember, Tesco has barely put a foot wrong, yet over the past 12 months, experts have been questioning its actions on a number of fronts.
The 10 issues we've identified are tactical. At least one, however, is systemic: Tesco has become part of The Establishment. When Sir Terry Leahy was rising to power, as Tony Blair was rising through the Labour Party ranks, Tesco was itself a basket case: downmarket and downtrodden.
With such a young, gifted and visionary leader at the helm, the challenge of turning the ship around made Tesco an exciting place to be. It was a place for young turks who wanted to make a name for themselves. Fast forward to 2009, with Blair gone and Brown up to his neck in it, there are some who think Tesco's gone too far downmarket again, with its Discounter range and the remorseless signage and sloganeering that assault you from every fixture in every aisle. Perhaps.
But Tesco is no longer a contender. It's retail royalty. It's not the underdog. And there's a whole generation of senior management who've risen to the top alongside Leahy - David Reid, Richard Brasher, Tim Mason, David Potts and arguably Andy Higginson. For as long as New Labour has been in power, these brilliant leaders have been at Tesco's helm. But they're in the way for the next generation. In the UK, especially, there's a waiting game to be played. And young turks can't wait.
These are, of course, problems its rivals would love to have, but it's a debate worth having. For as long as I can remember, Tesco has barely put a foot wrong, yet over the past 12 months, experts have been questioning its actions on a number of fronts.
The 10 issues we've identified are tactical. At least one, however, is systemic: Tesco has become part of The Establishment. When Sir Terry Leahy was rising to power, as Tony Blair was rising through the Labour Party ranks, Tesco was itself a basket case: downmarket and downtrodden.
With such a young, gifted and visionary leader at the helm, the challenge of turning the ship around made Tesco an exciting place to be. It was a place for young turks who wanted to make a name for themselves. Fast forward to 2009, with Blair gone and Brown up to his neck in it, there are some who think Tesco's gone too far downmarket again, with its Discounter range and the remorseless signage and sloganeering that assault you from every fixture in every aisle. Perhaps.
But Tesco is no longer a contender. It's retail royalty. It's not the underdog. And there's a whole generation of senior management who've risen to the top alongside Leahy - David Reid, Richard Brasher, Tim Mason, David Potts and arguably Andy Higginson. For as long as New Labour has been in power, these brilliant leaders have been at Tesco's helm. But they're in the way for the next generation. In the UK, especially, there's a waiting game to be played. And young turks can't wait.
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