article_snippet.sent: Tesco is under pressure to axe 200 stores — on top of 100 already closed or cancelled — after Tesco announced a record annual loss of £6.38billion.
article_snippet.sent: a record annual loss of £6.38billion is the largest ever declared by a British retailer and reflects a seismic shift in shopping habits away from big supermarkets towards smaller budget stores.
article_snippet.sent: Over the past 20 years, Tesco went on a spending spree to build up a vast land bank that was designed to expand Tesco empire of some 3,000 stores.
article_snippet.sent: Tesco Tesco announced a record annual loss of £6.38billion yesterday .
article_snippet.sent: As a result, Tesco has been forced to slash the value of Tesco property empire and sell off land cheaply, with the loss of thousands of jobs.
article_snippet.sent: Shares in Tesco closed down 5.2 per cent on the day, wiping around £1billion off £1billion stock market value and taking £1billion down to just over £18billion.
article_snippet.sent: ; Tesco wanted to dominate and did not care enough about where Tesco sourced food or that customers’ tastes would change, particularly in a recession.
highlights_snippet.sent: Tesco announced a record annual loss of £6.38billion yesterday .
  
highlights_snippet.sent: Supermarket giant now under pressure to close 200 stores nationwide .
  