Sales boost for Tesco

Tesco revealed its best UK sales growth in three years as the chain's drive to reverse falling profits gathered pace over Christmas. Like-for-like sales in the UK grew by 1.8% in the six weeks to January 5.

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'Too early' to predict Tesco recovery

Despite the UK sales improvement, Seymour Pierce analyst Kate Calvert said it was too early to call a recovery in Tesco's performance:

There is still much to be done given general merchandise remains a drag and we believe there will be no visibility on whether UK profits have bottomed until the second half of 2013.

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