British retailer Tesco has issued a fourth profit warning for the year, so shares hit a 14-year low, losing some 17% at one point.<br /><br /> The world’s third-biggest supermarket chain has shocked the market with the latest write-down, which says 2014’s profits will be nearly 30% shy of the average analysts’ forecasts.<br /><br /> Being blamed are costly and unsuccessful attempts to expand into Asia and the US, the impact of discount retailers who have increased market share at the expense of their higher-cost established rivals, and management failings that have led to accounting scandals and possible law suits.
