19 June 2015
Tesco reveals pre-tax losses of £6.4 billion
Many analysts in the City thought Tesco’s accounts would be bad – but not this bad. This spring, the preliminary financial results of the ailing supermarket giant, Tesco, revealed their 2014/15 results were more than just bad – they were of disastrous proportions.
The retail group’s financial statements reveal colossal pre-tax losses of around £6.4 billion, compared with a £2.3 billion profit in 2013/14: one of the largest losses in corporate retail history. One-off items have resulted in...