BBC News – Tesco says it overstated profit forecast by £250m

[Legal Beagles]

Tesco has launched a review after it found it had overstated its expected profit for the half year by £250m. The supermarket chain said it was now working to establish the impact of the issue on its full-year results. It had expected £1.1bn profit for the half year. It has appointed Deloitte to independently investigate […]

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[MIKE770]

Re: BBC News – Tesco says it overstated profit forecast by £250m

Tesco has suspended four executives, including its UK managing director, after the supermarket overstated its half-year profit guidance by £250m.
It has launched an investigation headed by Deloitte. The supermarket chain says it is now working to establish the impact of the issue on its full-year results.