Struggling supermarket giant Tesco has seen its share price plunge more than 15%, after it issued its fourth profit warning in a year.
In a trading update, Britain's biggest grocer said profit to the year ending February 2015 would not exceed £1.4bn - some 30% below previous estimates of around £1.94bn.
The double digit share price plunge comes on the 100th day in office for new chief executive Dave Lewis.
Mr Lewis is set to take over the day-to-day running of the UK business on January 1.
The company has seen £11.7bn in market capitalisation eroded this year so far, with £3.4bn wiped from its value since Mr Lewis joined.
It said the cost of overhauling internal structures, product lines and investments were behind the latest trading update.
The company has struggled amid the rise of more discerning shopping habits, discounters and a succession of scandals.
In early 2012 it issued its first profit warning in two decades.
It then took a series of hits over its failing venture in the United States and writedowns in its UK property portfolio post-recession.
Last year it was hit by the scandal over horsemeat and in 2014 there has been significant management shake-ups.
Tesco was also hit by an accounting controversy, after it inaccurately recorded £250m as profit in its books.
A number of senior executives have been suspended pending the outcome of an internal inquiry and it later emerged that a key financial role had been vacant for months.
The Serious Fraud Office has since launched an official investigation into the £250m accounting issue.
Anda sedang membaca artikel tentang
Tesco Issues Full-Year Profit Warning
Dengan url
http://gagalcoba.blogspot.com/2014/12/tesco-issues-full-year-profit-warning.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Tesco Issues Full-Year Profit Warning
namun jangan lupa untuk meletakkan link
Tesco Issues Full-Year Profit Warning
sebagai sumbernya
0 komentar:
Posting Komentar