tesco

Tesco chief executive Philip Clarke has made a shock departure from the struggling retailer after it issued another profit warning.

Tesco's share price rise this morning has failed to tempt UK equity managers to buy in to the troubled retailer, with leading investors continuing to avoid the stock and the wider sector.

Supermarkets are weighing on the FTSE 100 index today as worries escalate over price wars between the UK's leading food stores.

Billionaire investor Warren Buffett has cut his stake in Tesco, days after the food retailer posted a major profit slump.

Supermarket giant Tesco led the FTSE 100 lower this morning after revealing its profits had dropped off sharply.

Tesco, the UK's biggest supermarket chain, has reported a drop in profits of 23.5% in the first half of its financial year.

London's leading equity index lost ground in afternoon trading, led by asset managers, as encouraging data from the services sector also failed to lift sentiment.

Supermarket giant Tesco suffered another fall in sales in the UK in the first quarter of this year as the business continues to struggle to regain momentum amid the economic slowdown and the recent horsemeat scandal.

Tesco has reported its first decline in annual profits for two decades after taking a £1bn hit from exiting the US market.

Invesco Perpetual's Neil Woodford topped up his stake in supermarket Morrisons as BlackRock sold down its position at the start of 2013, according to reports.