British retailer Tesco’s (LSE:TSCO) stock tumbled Wednesday despite improvements in the UK market, while uncertainties over Brexit have recently spurred significant shifts in the sector.
Shares of Tesco plunged after the company revealed losses related to its Central European and Asian operations.
In the first half of 2018/19, the firm said like-for-like (LFL) sales in Central Europe fell 1.5%, driven by Sunday trading regulations, and in Asia, LFL sales dropped by 7%, due in large part to adverse impacts from brand repositioning and investment in Thailand.
Tesco said it expects the adverse impacts in Asia