Tesco shares could tank below a pound

Tesco is in big trouble. Its half-year results make grim reading, its chairman is leaving, and the share price is plummeting. Phil Oakley looks at where Britain's biggest supermarket chain goes from here.

141023-tesco

Tesco: looking grim

So Tesco's chairman, Sir Richard Broadbent, is stepping down. Some people seem to be quite pleased about this. Yet, if you are a shareholder in Tesco, it probably doesn't make a blind bit of difference. Broadbent has undoubtedly made some mistakes, but he is not to blame for Tesco losing touch with its customers.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Explore More

Phil spent 13 years as an investment analyst for both stockbroking and fund management companies.

 

After graduating with a MSc in International Banking, Economics & Finance from Liverpool Business School in 1996, Phil went to work for BWD Rensburg, a Liverpool based investment manager. In 2001, he joined ABN AMRO as a transport analyst. After a brief spell as a food retail analyst, he spent five years with ABN's very successful UK Smaller Companies team where he covered engineering, transport and support services stocks.

 

In 2007, Phil joined Halbis Capital Management as a European equities analyst. He began writing for MoneyWeek in 2010.