Tesco has reported its largest fall in sales for decades as shoppers turn away from Britain's biggest retailer.
The supermarket chain reported that like-for-like sales fell by 3.7pc in the UK in the three months to May 25.
Philip Clarke, Tesco's chief executive, admitted he had not experienced a larger fall in sales during his 40 years at the retailer.
Tesco is losing sales as the German discounters Aldi and Lidl attract shoppers at a rapid pace.
Mr Clarke said sales had been hit by store refurbishments and "subdued" spending by customers. The fall in sales also reflects the deflationary effect of price cuts as Tesco invests £200m in an attempt to sharpen its pricing. Read on and comment » | Graham Ruddick | Wednesday, June 04, 2014
