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22/09/2014
Tesco Executives Suspended In Profit Investigation
The managing director of Tesco's UK has been suspended, along with three other executives, as part of an investigation into overstated half-year profits.
It is understood that Deloitte is investigating allegations that the supermarket overstated its half-year's profit guidance by £250m, almost a quarter of its expected profit for the period.
Tesco chief executive Dave Lewis, who started in the role on 01 September, confirmed that 'a number of people' had been suspended from duty "to facilitate the fullest and deepest investigation possible". He stressed though that this was not "disciplinary or an admission of guilt".
(MH/IT)
It is understood that Deloitte is investigating allegations that the supermarket overstated its half-year's profit guidance by £250m, almost a quarter of its expected profit for the period.
Tesco chief executive Dave Lewis, who started in the role on 01 September, confirmed that 'a number of people' had been suspended from duty "to facilitate the fullest and deepest investigation possible". He stressed though that this was not "disciplinary or an admission of guilt".
(MH/IT)
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14 October 2014
Three More Tesco Executives Suspended
A further three Tesco executives have been asked to step aside, while the supermarket continues to investigate an alleged £250 million profit guidance overstatement. The latest round of suspensions brings the total number of executives asked to step aside, to eight. The investigation involves an alleged profit overstatement of £250m.
Three More Tesco Executives Suspended
A further three Tesco executives have been asked to step aside, while the supermarket continues to investigate an alleged £250 million profit guidance overstatement. The latest round of suspensions brings the total number of executives asked to step aside, to eight. The investigation involves an alleged profit overstatement of £250m.
16 April 2014
Tesco Announce 6% Full-Year Profit Fall
Britain's biggest supermarket chain, Tesco, has reported a 6% fall in its full-year profit of £3.3bn. The supermarket announced its pre-tax profit were down 6.9% to £3.1bn as its like-for-like sales, excluding fuel and VAT, also fell 3% in the three months to the end of February.
Tesco Announce 6% Full-Year Profit Fall
Britain's biggest supermarket chain, Tesco, has reported a 6% fall in its full-year profit of £3.3bn. The supermarket announced its pre-tax profit were down 6.9% to £3.1bn as its like-for-like sales, excluding fuel and VAT, also fell 3% in the three months to the end of February.
17 April 2013
Tesco Suffer First Profit Drop In 20 Years
As Tesco announce they are to pull out of the US completely, the supermarkets profits have fallen for the first time in almost 20 years. The supermarkets US chain of 199 Fresh & Easy shops have never made a profit and will now be wound up, at a cost of £1.2bn.
Tesco Suffer First Profit Drop In 20 Years
As Tesco announce they are to pull out of the US completely, the supermarkets profits have fallen for the first time in almost 20 years. The supermarkets US chain of 199 Fresh & Easy shops have never made a profit and will now be wound up, at a cost of £1.2bn.
06 August 2009
Accolade For 'Voluntary' Nursing Homes
On average, not-for-profit nursing homes deliver higher quality care than for-profit nursing homes. This is one of the findings in a new study published this week on the British Medical Journal's website, bmj.com.
Accolade For 'Voluntary' Nursing Homes
On average, not-for-profit nursing homes deliver higher quality care than for-profit nursing homes. This is one of the findings in a new study published this week on the British Medical Journal's website, bmj.com.
09 December 2014
Tesco Shares Plummet
Retailer giant Tesco has reported its share price has plummeted more than 15%. In a trading update, Tesco said profit to the year ending in February 2015 would not exceed £1.4bn. New Chief Executive Dave Lewis said: "Tesco is focused, and will continue to focus, on doing the right thing for customers.
Tesco Shares Plummet
Retailer giant Tesco has reported its share price has plummeted more than 15%. In a trading update, Tesco said profit to the year ending in February 2015 would not exceed £1.4bn. New Chief Executive Dave Lewis said: "Tesco is focused, and will continue to focus, on doing the right thing for customers.
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