A storm hits Tesco and its top management. In fact, the British large-scale retail giant has launched a profit warning, an alarm relating to profits, which will in all probability be lower than forecasts: “The current market conditions are more demanding than we expected. The global market is weaker and combined with the increasing investments we are making in improving customer offerings and long-term loyalty, this means that sales and trading profits in the first half of the year are a bit 'below expectations'.
Furthermore, following the disappointing performance, the current CEO Philip Clarke announced his resignation, which will become effective from XNUMX October. Replacing him at the helm of the group will be Unilever chairman Dave Lewis.
Meanwhile, despite the profit warning and Clarke's resignation, the market response was positive, so much so that Tesco's share gained about 2% on the London Stock Exchange.
