- Closing 43 unprofitable stores, exploring the sale of several of its assets and doing away with this year's final dividend, Tesco (OTCPK:TSCDY, OTCPK:TSCDF) chief executive Dave Lewis has set a revival plan in motion for the troubled British grocer.
- The steps come after a turbulent year for Tesco, which has replaced its CEO and CFO, issued four profit warnings and suffered due to a £263M accounting misstatement.
- Tesco shares in London are up 6.2% on the news.