Tesco 2015 results report a £6.4 billion loss

Tesco has reported the worst annual financial results in the retailer’s 96 year history, showing a loss of £6.376bn (A$12.36) and underlying profit before tax fall just over 70 per cent for the year. Dave Lewis, Tesco chief executive, said it had been a very difficult year for the supermarket giant. “The results we have published today reflect a deterioration in the market, and more significantly, an erosion of our competitiveness over recent years,” he said.