How To Break The Puzzle Of Loss In The Past Three Years?

Huarun's 2014 results showed a loss of HK $1 billion 359 million in the retail sector.

Yan group, a representative of Huarun group, said that the mainland China's retail business is expected to face 3-5 years of deep adjustment, which may slow down the development of other businesses in Huachang, so the Huarun venture will sell the risk of integration to its parent company.

Tesco, one of the three largest retailers in the world, released its results in April 22nd. In the 2014 fiscal year ending February 28th, Tesco made a huge loss of 6 billion 376 million pounds (about 59 billion 392 million yuan) before tax, and the loss after tax amounted to 5 billion 740 million pounds (53 billion 434 million yuan). The deficit hit the company's 94 year history.

In the 2013 fiscal year,

There is also a pre tax profit of 2 billion 260 million pounds (about 21 billion 39 million yuan).

Before the release of this earnings report, the market's loss of Tesco is expected to be a loss of up to 5 billion pounds before tax (about 46 billion 546 million yuan).

Tesco said in a statement that the main reason for the loss is that Tesco experienced an accounting scandal in the past year.

Turbulence and domestic and international sales slump.

In September 2014, the Tesco financial department was accused of exaggerating.

With a magnitude of 23%, Tesco fired many executives and replaced PWC, an auditing company.

In the 2014 fiscal year, a large part of the huge losses came from the depreciation and impairment of Tesco property assets.

Due to the fall in retail store prices in the UK, Tesco suffered about 4 billion 700 million pounds (43 billion 753 million yuan) losses in real estate.

DaveLewis, chief executive of Tesco PLC, said the annual report reflected the deterioration of the market and, more importantly, the erosion of competitors in recent years. Therefore, I hope to conclude with the end of the past as soon as possible.

Tesco has lost profits for three consecutive years, announced last year that it closed 43 unprofitable stores within the UK, while shelving 49 super stores.

Tesco also said overseas business environment was difficult, especially in the Korean market, and the European market was equally disappointing.

In fact, Tesco is not optimistic in China. Its poor performance has dragged down the Huarun venture that acquired its Chinese business, which led to the first loss of Huarun venture since its listing last year.

In April 21st, Huarun had to announce that it would sell its store business to Huarun group and retain beer business.

Huarun's share price rose after the resumption of entrepreneurship.