Tesco share price wobbles ahead of results: Here’s how the last four weeks unfolded after that profit overstatement

 
Lynsey Barber
Follow Lynsey
Tesco has had a rough four weeks (Source: Getty)

Tesco’s share price opened slightly higher this morning but then dipped 1.3 per cent after a two day rally.

It's a slight waiver after the supermarket made steady gains this week, with a 2.7 per cent rise on Monday and 3.5 per cent on Tuesday.

It signals a positive start to the week in which the supermarket is due to report its latest results and update investors on the investigation into a profit overstatement which rocked the City almost a month ago.

This week's rise follows news that Tesco is understood to have found evidence of “inappropriate behaviour” by staff is to blame rather than serious accounting errors, in addition to reports that the overstatement could be less than the £250m fist thought.

This has eased investor worries somewhat as to just how widespread the issue is.

Amid the retailer’s suspension of senior executives, big name investors selling off their stakes and the sell-off of its private jet fleet, Tesco shares stand at 22 per cent down on the close prior to the announcement of its estimated £250m profit black hole.

In a roller coaster four weeks for the supermarket giant, here’s a recap of how things unfolded... and the ride may not be over yet.

Related articles