Tesco’s results are out Thursday for the first half of the year, and a breakdown of the results shows just how badly the company is being hammered. Shares are down by 6.39% well into London’s trading day Thursday, adding to the last month’s brutal sell-off.
According to UK Channel 4’s Paul Mason, CEO Dave Lewis has been ordered by financial regulators not to explain the massive £250 million ($400 million) profit error that was revealed last month. That suggests that investors could be kept in the dark for months yet, just making the firm’s situation worse.
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