Shareholders back the Tesco board

Tesco shareholders have every reason to feel glum. For much of the last three years the supermarket has looked in steady decline.

Live updates



Tesco facing 'challenging' overseas markets

Tesco have suffered a setback in overseas sales figures. Credit: Reuters

Tesco reported a dip in sales in its international markets with underlying sales sharply lower in Thailand, South Korea and Ireland during the third quarter.

The supermarket giant said international conditions remained "challenging".

Like-for-like sales in Asia declined by 5.1 per cent while European figures revealed a like-for-like sales decrease of 4 per cent.

Read: Tesco sales fall down to 'weaker grocery market'

Tesco sales fall down to 'weaker grocery market'

Tesco have blamed a weaker grocery market for its fall in like-for like sales.

Total sales in the UK, including VAT and excluding petrol, increased by 0.9 per cent, however like-for-like sales, excluding both VAT and petrol, decreased by 1.5 per cent for the quarter.

Tesco have announced a drop in like-for-like sales. Credit: PA Wire

The chief executive of the supermarket giant, Philip Clarke, said the results reflect the "continuing pressures on UK household finances".

The company said consumers were still adjusting to the "unprecedented period of declining real incomes and a higher cost of living", and there was weak growth across the UK grocery market.

Load more updates


Today's top stories