The Festival of Words: From Gyles Brandreth to Anthony Scaramucci – all you need to know about the Fleet Street Quarter festival
Historic Tesco loss sparks share price slump: Dave Lewis has to move from “drastic” to “dynamic” April 22, 2015 2007: TESCO’S PEAK MARKET SHARE 31.7% MARKET SHARE MARCH 2015 28.4% Shares in Tesco slumped by five per cent yesterday after the retail giant capped a year of profit warnings, accounting scandals and fraud investigations by posting one of the biggest losses in corporate history. Britain’s biggest supermarket made a statutory pre-tax loss of £6.4bn [...]
Back to basics for Tesco: Dave Lewis’s plan has a fighting chance of success April 22, 2015 If Tesco chief executive Dave Lewis takes any pleasure in yesterday’s apocalyptic-sounding headlines, it will be the knowledge that the “kitchen sinking” is complete – surely there can be no more bad news for the retailer to announce. Such a huge loss – £6.4bn in the year to the end of February, and one of [...]
Tesco’s share price is all over the place. Here’s why April 22, 2015 Shares in Tesco were up more than two per cent in early trading, brushing off the shock of a larger than expected loss of £6.38bn for the year. Despite the massive loss – the largest ever recorded by the supermarket and the sixth biggest of any UK company – investors initially remained confident in the ability [...]
Tesco: Here’s what the City and analysts are saying about record annual losses April 22, 2015 As the details of Tesco's losses and its turnaround plans sink in around the City, here's the initial take from analysts, business experts and even the man funding shareholder litigation against Tesco over the profit overstatement last year that triggered it all. Louise Cooper, CooperCity – "Tesco is like Miliband – it has two kitchen [...]
Tesco results: Three things you need to know after today’s annual loss announcement April 22, 2015 Tesco's results are out and there's a lot to take in – market reaction had been mixed this morning, initially up and now largely flat. Here are the three key things you need to know about Tesco this morning after shock losses at the supermarket. 1. How huge? This huge To put Tesco's £6.38bn loss [...]
Video: Here’s what Dave Lewis has to say about Tesco’s massive £6.4bn loss April 22, 2015 Tesco chief Dave Lewis has said he is not happy with the "significant" numbers in today's full-year results in which the supermarket reported record losses of £6.38bn. In a video discussing the latest figures alongside finance chief Alan Stewart, created by Tesco, when asked what's gone wrong, Lewis said the numbers were " significant" and [...]
Tesco: The decline and fall of the supermarket giant and its share price in one chart April 22, 2015 The business world is reacting to the news that Tesco has racked up a £6.38bn loss – one of the biggest losses ever made by a UK company. The beleaguered supermarket’s pre-tax losses for the year are even higher than the £5bn markets had been expecting. There was also a big hit from the writedown of [...]
Tesco racks up record £6.38bn loss in worst year in supermarket’s history April 22, 2015 Tesco has racked up a £6.38bn loss – the worst year in the supermarket's 96-year history. It's one of the biggest losses ever made by a UK company, and the biggest ever made by a British retailer. The beleaguered supermarket's pre-tax losses for the year are even higher than the £5bn markets had been expecting. One-off [...]
Tesco set to report record loss. Is new boss Dave Lewis the man to lead a turnaround? April 20, 2015 Dave Lewis arrived at Tesco with the nickname “Drastic Dave” – earned after he streamlined Unilever UK in 2007, cutting 40 per cent of costs and 300 jobs. When he took up the role of Tesco chief executive in September he had every reason to live up to that moniker. Facing a £263m accounting error, [...]
Five things to expect from Tesco’s results this week: Billion-pound losses, a pension blackhole, property writedown and more April 20, 2015 If Tesco thought the worst was over, Wednesday is likely to take Dave Lewis and co screaming back to last year’s blackhole debacle as the supermarket reports full-year results that are expected to be the worst in its 96-year history. LATEST: Tesco racks up worse than expected £6.38bn loss in worst year in supermarket's history With [...]