Tesco to detail impact of recent overstatement

The new chief executive of Tesco, Dave Lewis, will give a clear indication of the impact of the recent £250m profit overstatement by the supermarket operator next week.

According to a memo sent to staff, and seen by the FT, Lewis will provide a "clear and accurate indication of [the company's] income for the first half of the year."

The firm is due to release its first half results on Thursday.