British supermarket giant Tesco has announced another slump in half-year profits - down 55% on the period a year earlier.
The latest numbers come as the company attempts to turn the business around after a run of disappointing figures in the face of greater competition in the sector.
Like-for-like sales also fell 1.1% in the second quarter, but international sales did rise 1%.
Linsey Barber of CITY AM newspaper says Tesco's new chief executive Dave Lewis has a big task on his hands.
IN: "He's been…
OUT: …started."
DUR: 36 seconds
http://fsnradionews.com/feeds/1007lynsey-barber1.mp3
The latest numbers come as the company attempts to turn the business around after a run of disappointing figures in the face of greater competition in the sector.
Like-for-like sales also fell 1.1% in the second quarter, but international sales did rise 1%.
Linsey Barber of CITY AM newspaper says Tesco's new chief executive Dave Lewis has a big task on his hands.
IN: "He's been…
OUT: …started."
DUR: 36 seconds
http://fsnradionews.com/feeds/1007lynsey-barber1.mp3