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Tesco chief moves to calm staff

The new chief executive of Tesco, Dave Lewis, has told the retailer’s staff that he will publish an accurate report of the company’s profits on Thursday.

Tesco revealed last month that it had over-stated its first half pre-tax profit by £250m. Lewis also told staff in a memo that the company’s recent performance in food sales had been strong.

Private equity groups may be lining up bids for Tesco’s Asian business, which is valued at £9bn.

FT Companies & Markets 17
Times 45 and 47

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