Tesco is set to appoint Chris Bush, as its new UK managing director tomorrow, a year after the disastrous Christmas which resulted in the departure of UK chief executive Richard Brasher.
The retailer this afternoon also refused to confirm or deny reports it has poached Robin Terrell from House of Fraser to become its new multi-channel director, in another major appointment to its senior team.
Terrell’s track history includes senior roles at major retailers including Amazon, John Lewis and Figleaves and his appointment comes with a huge surge in online sales one of the few bright lights for retailers.
Latest figures from the BRC this week showed a jump of nearly 18% year-on-year in reported online sales.
The promotion of UK COO Bush would see Philip Clarke return to his previous global overseeing role, with imminent challenges including the seemingly inevitable disposal of Tesco’s ill-fated US chain Fresh & Easy.
But there is expected to be better news on a domestic front. Analysts expect the latest results to show Tesco is beginning to reap the rewards of Clarke’s £1bn UK turnaround plan.
Analysts at in-house broker, Deutsche Bank, forecast UK like-for-like sales growth of 0.8 per cent in the six weeks to January 5, a huge contrast to this time last year when Tesco issues its first profit warning for 20 years.