Tesco
has suspended four executives, including its UK managing director, after the
supermarket overstated its half-year profit guidance by £250m.
That
would be almost a quarter of its expected profit for the period.
It
has launched an investigation headed by Deloitte, and says it is now working to
establish the impact of the issue on its full-year results.
"Disappointment
would be an understatement," said Tesco chief executive Dave Lewis.
Mr
Lewis, who only took the helm on 1 September, said it was "a serious
issue", but insisted "it doesn't take away from what I'm able to
build at Tesco".
Shares
fell 8% in early trading.
Mr
Lewis said "a number of people" had been suspended from duty "to
facilitate the fullest and deepest
