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The Independent: "Tesco has not passed it's sell-by date, but its blunders are costly"

Link to web site

"Philip Clarke, Tesco's chief executive ... admitted that Tesco had misjudged the 'space race' between UK supermarkets to build hypermarkets, leading to the £804m property write-down. He also conceded the retailer had been slow off the mark to move online.

"... That's three whopping errors, quite apart from the neglect of the UK stores and the mis-selling of payment protection insurance. They come at a huge cost: analysts say the write-downs are equivalent to 15 months of shareholder dividends.

"So the question is: how did such a brilliant retailer come to make such blunders? Did bosses get too big for their boots?"

"We know a story about bosses getting too big for their boots, don't we? And today, it's through the square window ..."

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