Shares for Tesco opened down 14% this morning after they issued a share price warning to its investors. According to the firm, based on the changes and investments made to date, it expects group trading profit for the financial year ending in February 2015 to not exceed £1.4 billion.
The retailer has announced that it will share the details about its measures to improve competitiveness in the UK and improve their balance sheet on 8 January.
Recent figures for Tesco Ireland show that sales are also down here. This year saw Tesco shares fall by 50% so far.
© 2014 - Checkout Magazine by Jenny Whelan.