Reuters - Video

EDITION: U.S. | U.K. | IN

Breakingviews

Reuters Breakingviews: Tesco profit price cuts

Friday, August 29, 2014 - 04:13

Aug. 29 - As Tesco issues a new profit warning, its new chief executive Dave Lewis needs to think hard about its international business arm, says Breakingviews

▲ Hide Transcript

View Transcript

Your days ago Robert -- -- has got to cut its dividend. Hey presto we got a 75% cut in the dividend today. Today he edges. The new management coming in early by the way about a month the to do various other things he joins me -- breaking views. We're going -- They put the typical. -- -- really the dividend cut comes to give the company's performance financial flexibility it needs. To reinvent his strategy pull -- to reveal itself in the third through me kind of and imperatives. Isn't the supermarket across full time home. I'm and -- really needs to get involved in that I'll leave little biased that ruled competing half. -- is trying it needs to redouble it no -- triple its efforts to basically bring prices down. So we get more people going in through the door I've been satisfied with the pre -- right behind him. Her new book trying to -- it. Second point aids. The -- needs to be resold it needs to Britain Tesco in the new chief executive. -- -- -- new finance their right to coming I think he probably needs at least one perhaps two or three more executives. They could come from within -- but some new confidence needs to be given. Two I bigger team on the exact some parts of the schools all of -- and the third thing I'm probably the most done. A difficult and controversial figures dolls text -- settle get rid of its international right and you community action. I'm really on the side. I think well I say that a little bit what was strategic review. This will be no sacred cows and they should be looked not very often that's a very difficult question who wants a given the depth of the problems that have been done by outside both in terms of the dividend amounts -- the warning him it may be that you had. He's so I was struggling. -- -- to concentrate fully on you know you US account a couple of days on this the dividend cut we we we did get -- -- 75%. Did you expect much. Yes honestly. Yes yes he's exactly I mean I didn't think about I didn't put a number on how much did it will be tough because it. That -- spews -- Full costing accuracy. Up two point one covered completely in. Some 5% I think is that. We don't alienation notice -- much as always thought right I guess is one of the things all things about Iraq. Okay I'm -- -- gives -- -- -- you warned that a couple of days ago can't they do this chip prices and fools. Quite a bit houses Foreman 306 and they send this morning. You send it back actually in the scheme of things as matters -- diligently yet. No absolutely and remember that one of the tenants of we'll surplus book it's what the dividends dates didn't come down some thoughts that smoke if you look sick applies here and there wasn't any. I think hell's going on its surplus in the pool and some thoughts on tonight they found six flights and I thought that was lost Hamas or actually this is a minimal thing. Really in the in the context it's down 40% -- -- three -- four years and dignity but today with the trading problems have been. I don't really undermined. The step -- these up front tonight. Sorry to -- but but there's another one. Which is I think -- yes disappointed by the rules telling congress. By the fact that -- -- in Crawford. That is really quite rightly. So that's -- -- -- that pessimism with a bit of optimism that we will see if they Dave Lewis musical from many thanks -- -- from breaking news. Outside the -- American -- wolf I'm if you wanna watch our US church hopefully some some confetti EST if you wanna see. I roberts' piece a couple of days ago when he was that dividend -- I can find on the inside of classical. As what is the breaking news website. -- -- -- -- --

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Reuters Breakingviews: Tesco profit price cuts

Friday, August 29, 2014 - 04:13

Top News »

Most Popular »

Retirement »

Investing 201 »

Bond investors brace for the end of Fed stimulus Bond investors brace for the end of Fed...

Fri, Oct 10, 2014 - (4:03)

Arian Foster = BlackBerry? Arian Foster = BlackBerry?

Fri, Oct 25, 2013 - (3:16)

Don’t miss these red flags for IPOs Don’t miss these red flags for IPOs

Thu, Oct 10, 2013 - (2:34)

Copycat currency trading Copycat currency trading

Wed, Oct 02, 2013 - (2:28)

When to dump a winner When to dump a winner

Tue, Sep 24, 2013 - (1:55)

Where gold might again attract Jim Rogers Where gold might again attract Jim Rogers

Thu, Sep 19, 2013 - (2:05)

Why savings interest rates won't budge Why savings interest rates won't budge

Fri, Sep 13, 2013 - (2:09)

Buy local? ETFs try the trend Buy local? ETFs try the trend

Thu, Sep 05, 2013 - (2:42)

The better bond funds The better bond funds

Wed, Aug 07, 2013 - (2:40)

Best bargain in 40 years? European stocks Best bargain in 40 years? European stocks

Thu, Aug 01, 2013 - (2:24)

Invest like an activist Invest like an activist

Fri, Jul 26, 2013 - (2:49)

Why bruised Brazil is a buy Why bruised Brazil is a buy

Fri, Jul 19, 2013 - (2:48)

3 ways to fix your bond portfolio 3 ways to fix your bond portfolio

Thu, Jul 11, 2013 - (3:10)

The next gold? Diamonds lure investors The next gold? Diamonds lure investors

Wed, Jul 03, 2013 - (2:38)

How to play the Fed’s tapering timeline How to play the Fed’s tapering timeline

Thu, Jun 20, 2013 - (2:34)

How to play banker on the web How to play banker on the web

Tue, Jun 11, 2013 - (2:57)

3 surprises about the 2013 stock rally 3 surprises about the 2013 stock rally

Fri, May 24, 2013 - (2:11)

How to cash in on lawsuits - Investing 201 How to cash in on lawsuits - Investing 201

Tue, Apr 30, 2013 - (2:30)

Rising dollar will drive stocks higher Rising dollar will drive stocks higher

Wed, Apr 10, 2013 - (2:32)

A little-known path to big dividends - Investing 201 A little-known path to big dividends -...

Thu, Apr 04, 2013 - (3:16)

What exactly does Warren Buffett own? - Investing 201 What exactly does Warren Buffett own? -...

Thu, Feb 14, 2013 - (0:51)

Big short bets: Where are they now? - Investing 201 Big short bets: Where are they now? -...

Fri, Dec 21, 2012 - (2:33)

Money Clip »

Will Apple Pay transform mobile payments? Will Apple Pay transform mobile payments?

Thu, Oct 16, 2014 - (2:45)

3 things to do before disaster strikes 3 things to do before disaster strikes

Wed, Sep 18, 2013 - (1:39)

Your must-do money list Your must-do money list

Wed, Sep 11, 2013 - (1:24)

The worst "best" financial advice The worst "best" financial advice

Wed, Sep 04, 2013 - (1:42)

Forget gold: The case for REITs Forget gold: The case for REITs

Fri, Apr 26, 2013 - (1:19)

3 rules for buying a house now 3 rules for buying a house now

Thu, Apr 18, 2013 - (1:39)

“Stalking” your dream home - Money Clip “Stalking” your dream home - Money Clip

Wed, Mar 27, 2013 - (2:50)

3 hidden tax deductions - Money Clip 3 hidden tax deductions - Money Clip

Thu, Mar 21, 2013 - (1:33)

How to break your prenup - Money Clip How to break your prenup - Money Clip

Thu, Mar 07, 2013 - (1:18)

Watch your wallet on Pinterest - Money Clip Watch your wallet on Pinterest - Money Clip

Thu, Feb 21, 2013 - (1:33)

Get set for the big bull run - Money Clip Get set for the big bull run - Money Clip

Thu, Jan 24, 2013 - (3:41)

Moving Pictures »

Dance of the northern lights Dance of the northern lights

Mon, Oct 20, 2014 - (1:08)

Images of September Images of September

Wed, Oct 01, 2014 - (1:00)

Still missing – MH370 Still missing – MH370

Fri, Sep 05, 2014 - (2:05)

Burning Together Burning Together

Mon, Sep 01, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, Aug 22, 2014 - (3:12)

Images of August Images of August

Fri, Aug 29, 2014 - (1:00)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, Aug 11, 2014 - (2:27)

Burned memories Burned memories

Fri, Aug 08, 2014 - (3:02)

Images of July Images of July

Thu, Jul 31, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, Jul 11, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Thu, Jul 03, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, Jun 20, 2014 - (3:04)

World Cup: Around the globe in 50 goals World Cup: Around the globe in 50 goals

Fri, Jun 06, 2014 - (1:08)

VIVID – Sydney’s spectacle of light VIVID – Sydney’s spectacle of light

Fri, May 30, 2014 - (1:37)

The week that changed Boston The week that changed Boston

Mon, Apr 14, 2014 - (3:28)

360° snapshot of life in Kabul 360° snapshot of life in Kabul

Fri, Apr 04, 2014 - (1:26)

A blind teenager, living with vision A blind teenager, living with vision

Thu, Mar 27, 2014 - (3:51)

TIMELAPSE: Backstage at the Oscars TIMELAPSE: Backstage at the Oscars

Wed, Mar 05, 2014 - (2:49)

TIMELAPSE: Lunch with Oscar nominees TIMELAPSE: Lunch with Oscar nominees

Wed, Feb 12, 2014 - (2:55)

Sochi Highlights: Let the games begin Sochi Highlights: Let the games begin

Fri, Feb 07, 2014 - (0:40)

TIMELAPSE: On the Golden Globes red carpet TIMELAPSE: On the Golden Globes red carpet

Tue, Jan 14, 2014 - (3:28)

Pictures of the Year 2013 Pictures of the Year 2013

Fri, Dec 20, 2013 - (3:03)

Marching to the beat of Sousa's drum Marching to the beat of Sousa's drum

Thu, Dec 05, 2013 - (6:11)

The Gettysburg Address The Gettysburg Address

Thu, Nov 28, 2013 - (2:31)

Making Gruyere: A family affair Making Gruyere: A family affair

Wed, Oct 16, 2013 - (5:06)

Abortion: After the decision Abortion: After the decision

Tue, Sep 17, 2013 - (5:46)

A Hollywood Timelapse A Hollywood Timelapse

Mon, Jul 22, 2013 - (2:24)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, Feb 19, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, Jan 10, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, Aug 29, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, Aug 29, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, Aug 05, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, Dec 17, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sat, Dec 08, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Sun, Dec 09, 2012 - (10:39)

Lessons of the Jihad Jane case - Reuters Investigates Lessons of the Jihad Jane case - Reuters...

Sun, Dec 09, 2012 - (3:43)

Exclusive: Jihad Jane in her own words Exclusive: Jihad Jane in her own words

Sat, Dec 08, 2012 - (4:11)

Attorney: How a Maryland teenager became radicalized - Reuters Investigates Attorney: How a Maryland teenager became...

Fri, Dec 07, 2012 - (4:21)

Counselor: Jihad Jane at 17 - Reuters Investigates Counselor: Jihad Jane at 17 - Reuters...

Thu, Dec 06, 2012 - (4:17)

Dateline Asia »

Asia Week Ahead: Honda air bag crisis to deflate earnings? Asia Week Ahead: Honda air bag crisis to...

Fri, Oct 24, 2014 - (1:52)

FACTBOX: Japan's Abe loses two female ministers in one day FACTBOX: Japan's Abe loses two female...

Mon, Oct 20, 2014 - (1:20)

Breakingviews: Indonesia's Jokowi has a parliament problem Breakingviews: Indonesia's Jokowi has a...

Sun, Oct 19, 2014 - (2:19)

Investment Strategies: Don't worry, buy emerging markets Investment Strategies: Don't worry, buy...

Thu, Oct 16, 2014 - (3:58)

Breakingviews: Worse troubles than Agile brewing in China Breakingviews: Worse troubles than Agile...

Sun, Oct 12, 2014 - (2:35)

NBA's Brooklyn Nets hope to boost global profile in China NBA's Brooklyn Nets hope to boost global...

Fri, Oct 10, 2014 - (4:09)

Breakingviews: Hong Kong finance sector unmoved by protests Breakingviews: Hong Kong finance sector...

Thu, Oct 09, 2014 - (3:17)

Hong Kong markets keep calm and carry on Hong Kong markets keep calm and carry on

Mon, Oct 06, 2014 - (1:39)

China's one-child policy explored in photos China's one-child policy explored in photos

Mon, Oct 06, 2014 - (2:31)