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Tesco issues another profits warning, shares tumble

  • Tesco has said its profits will be much lower than earlier expectations, in its fifth such warning in a year.

    The UK supermarket’s shares dropped by up to 16% during early trading to reach a 14-year low, media reports said.

    Other supermarkets' shares in the country are also feeling the heat.

    The bad news has been relentless for Tesco in recent months, with falling sales and a criminal probe into accounting loopholes.

      

    Tagged as: Tesco, profits, UK supermarket, shares, supermarkets, accounting investigation, business news