Tesco Shares Slump After Profits Error

Tesco is facing a financial crisis with overstated profits of £263 million, leading to management changes and scrutiny of former executives. The grocery sector's competitive pressures have affected both retailers and suppliers. Tesco's stock has plummeted, and customer loyalty is waning. The new management must devise a strategy to regain market position and improve supplier relationships.

What was the amount by which Tesco's profits were overstated?

• £100 million

• £263 million

• £500 million

• £750 million

Who is under scrutiny due to the accounting issues at Tesco?

• The financial department

• The former chief executive, Philip Clarke

• The board of directors

• The new CEO

What is a significant challenge for regional suppliers like Cricketer Farm?

• Lack of demand for their products

• High production costs

• Competition from international suppliers

• Difficulty in securing shelf space at Tesco

How has Tesco's stock value changed compared to a year ago?

• It has increased slightly

• It has doubled

• It has halved

• It has remained the same

Which retailers are mentioned as offering more deals and comfort to customers compared to Tesco?

• ALDI and Sainsbury's

• Morrisons and Lidl

• Waitrose and ALDI

• Marks & Spencer and Asda