1. Tesco Plc, Britain's biggest retailer, began lowering prices on more than 3,000 products from books to bicycles by as much as 34 percent starting this week, equating to 270 million pounds to stimulate growth.
2. It added about 2,000 premium products to encourage consumers to spend more, even as it reduces prices on other goods as interest rates rise.
3. It added organic cranberries and green beans, smoked herring with crushed peppercorns and “localchoice” milk bought from farmers near individual stores during the quarter as customers seek more information about the origins of their meals.
4. It is accelerating expansion outside groceries and offered 155.6 million pounds to buy Dobbies Garden Centres Plc on June 8.
5. It is adding stores outside the U.K. to gain scale and increase its bargaining position with suppliers. It operates in 13 countries from China to Poland and is scheduled to open its first U.S. stores this year. It will add 7 million square feet of store space outside the U.K. this year
Revenue is in mastering the price elasticity of demand
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