Tesco Plc · LSE:TSCO
Tesco — Shareholder Meeting (June 2015)
17 slides from Tesco's shareholder meeting presentation, Jun 26, 2015
Slide 1: Annual General Meeting
26 June 2015 ANNUAL GENERAL MEETING Dave Lewis – Group CEO
Slide 2: The customer's champion
The customer’s champion Photos: Tesco PLC, DHL, Daily Telegraph, BBC
Slide 3: Recent challenges
Recent challenges £3,969m £3,525m 27.3% 27.1% 26.7% 25.8% 2011/12 2012/13 2013/14 2014/15 m £3,315m m 0.0% (0.3)% £1,390m (1.3)% (3.6)% 2011/12 2012/13 2013/14 2014/15 2011 2012 2013 2014 UK like-for-like Group trading UK market sales growth profit share
Slide 4: Financial consequences
Financial consequences Property impairment and onerous lease charges £(4,727)m Goodwill and other impairments £(878)m Stock £(570)m Restructuring £(416)m Commercial income adjustment (prior years) £(208)m Other £(223)m Total one-off items £(7,022)m
Slide 5: Three priorities
Three priorities Regaining Protecting Rebuilding competitiveness and strengthening trust and in our UK business the balance sheet transparency
Slide 6: Regaining competitiveness in our UK business
Regaining competitiveness in our UK business Service Availability Price
Slide 7: Simple, agile, lower cost
Simple, agile, lower cost £250mp.a. £400mp.a. savings savings 8 January 22 April Welwyn Garden City
Slide 8: New commercial approach
New commercial approach Jan Jan 2015 2016 2.5x Ambient Fresh and Convenience Range review Clearer, lower, Market leading stable prices choice
Slide 9: Customers responding
Customers responding 75% 80% 65% 40% 55% 35% Week 32 Week13 Week 32 Week13 Week 32 Week13 Service Availability Price Source: Customer viewpoint survey Note: Service chart reflects % customer rating overall service and colleague helpfulness as excellent; Availability chart reflects % customers who we
Slide 10: Transactions
Transactions Year-on-year change in UK transactions by quarter % 2.0% +1.3% (4.0) % 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2013/14 2014/15 2015/16
Slide 11: Volume-based recovery
Volume-based recovery UK LFL Volume 2.0% +1.4% (7.0) % 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16
Slide 12: Protecting and strengthening the balance sheet
Protecting and strengthening the balance sheet Cash generation Better trading Portfolio review Continue to review ongoing full-value options
Slide 13: Rebuilding trust and transparency
Rebuilding trust and transparency 22nd September Commercial Investment case Brand income issue
Slide 14: Rebuilding trust and transparency
Rebuilding trust and transparency
Slide 15: Small actions, bigger impact
Small actions, bigger impact 5% Reducing own- Tackling food Local label sugar waste communities
Slide 16: What's next?
What’s next? Regaining Protecting Rebuilding competitiveness and strengthening trust and in our UK business the balance sheet transparency
Slide 17: What's next? Serving Britain's shoppers a little better every day.
What’s next? Serving Britain’s shoppers a little better every day.