Tesco by numbers: The latest revelations
An update on Tesco's performance, following the announcement of its interim results on 23 October
Print23 October 2014
91.9 The percentage by which Tesco has reported its before-tax profits were down in the six months to August.
112 million The amount in sterling (€142 million) made by Tesco in the six months to August
4.4 The percentage by which Tesco’s sales have fallen across the board
7.3 The percentage Tesco’s like-for-like sales have fallen in Ireland in the last three months to August and 6.4% for the full half year. This represents the biggest drop in all of Tesco’s markets
62 The percentage that the value of Tesco’s share price has fallen by in less than five years
One Investigation by the Financial Conduct Authority.
One Chairman who is preparing to step down. Speaking about putting a new management team in place, Sir Richard Broadbent said: “Once this transition is complete and business plans are in place, it will mark the beginning of a new phase for the company and I will begin now to prepare the ground to ensure an orderly process for my own succession at that time.”
Eight The number of executives asked to step aside since an inquiry into the error was launched by new boss Dave Lewis. These includecommercial director Kevin Grace; Dan Jago, head of beer, wine and spirits; Sean McCurley, director of convenience; category director, William Linnane and UK managing director Chris Bush
118 million The profits overstatement in sterling identified by Deloitte’s review in relation to trading profit for the six months to August, with £70 million covering the 2013/14 financial year and about £75 million for previous periods
2.6 The percentage by which total sales in the UK declined, to £23.6 billion in the six months to August, with like-for-like sales for the final three months of the period down 5.5%
55.9 The percentage by which trading profits in the UK declined by year-on-year to £499 million
Two Suspensions of pay to former executives – Dave Lewis’ predecessor Philip Clarke and former finance director Laurie McIlwee – are being withheld pending investigations
One Dismissal of fraud. New chief executive Dave Lewis has said: “Nobody gained financially as a consequence of the overstatement of performance.”
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