14th Apr 2015 05:44
LONDON (Alliance News) - Tesco PLC shares fell on Monday after analysts warned the retailer could post a bigger-than-expected writedown on its UK supermarkets, the Financial Times reported on Monday.
The FT said analysts have forecast the writedown could be GBP3 billion to GBP4 billion, ahead of previous expectations that the company will book a GBP1 billion to GBP2 billion charge.
The writedown is expected to push Tesco to a reported loss for the financial year to the end of February, the analysts said.
http://www.ft.com/cms/s/0/70e9a926-e1f4-11e4-9995-00144feab7de.html?ftcamp=crm/email/2015414/nbe/UKBusiness/product#axzz3XAFjeJBy
By Sam Unsted; [email protected]; @SamUAtAlliance
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