Brand expert: Tesco needs to 'fight for our wallet'

Brand expert Stephen Cheliotis has said supermarket giant Tesco needs to "win us over by price" after it announced a fall in like-for-like sales.

Mr Cheliotis said: "A fierce market is great for us. They'll be fighting for our wallet and they need to fight for our wallet."

"Ultimately they need to win us over by price as well so this is good for us because it should mean a big squeeze on prices," he added.

Advertisement

Tesco pre-tax profits fall 6.9% to £3.05bn

Underlying pre-tax profits at Britain's biggest supermarket Tesco fell 6.9% to £3.05 billion. Like-for-like sales fell 1.4%.