Pre-tax profits fell 8 per cent at Tesco last year, their second consecutive annual drop. Lex's Joseph Cotterill and Alphaville's Dan McCrum debate whether capital spending at the grocer is to blame.<br /><br />For more video content from the Financial Times, visit http://www.FT.com/video<br /><br />Subscribe to the Financial Times on YouTube; http://goo.gl/vUQx5k<br />Twitter https://twitter.com/ftvideo<br />Facebook https://www.facebook.com/financialtimes
