Tesco has announced an investigation into its half year profits reporting during which multichannel director Robin Terrell has been called upon to manage the retailer’s leadership team. The alleged profits overstatement has sent shock waves through the city and the ensuing negative national media coverage has come at very bad time for Tesco which is already suffering from loss of market share to the discounters. Tesco has delayed the release of its interim results from 1st October to 23rd October at which time CEO Dave Lewis is expected to be in a position to make a full statement about the matter.
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