Loss leader? Ten funds backing a big Tesco turnaround

Loss leader? Ten funds backing a big Tesco turnaround


Richard Buxton has been among the most vocal backers of Tesco this year, but, as the supermarket posts a record £6.4bn loss, which funds have the most conviction in the stock?

Tesco dropped 5% on Wednesday after reporting the worse than expected figures, the sixth largest loss in UK corporate history. Yet the company's shares remain around 20% higher year to date, indicating renewed interest in the stock after a disastrous 2014. A number of challenges remain, not least the margin compression being exerted by the rise of discount rivals such as Aldi and Lidl. But this week's loss will have done little to put off the supermarket's new shareholders, who see new CEO Dave Lewis as having "kitchen sinked" the company to clear the way for a path to renewed grow...

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