Tesco has defended its first quarter results, after it revealed a 3.7 per cent fall in like-for-like sales. Chief executive Philip Clarke said: "As expected, the acceleration of our plans is impacting our near-term sales performance."
Mr Clarke added: "The first quarter has also seen a continuation of the challenging consumer trends in the UK, reflecting still subdued levels of spending in addition to the more structural changes taking place across the retail industry.
"We are determined to lead in this period of change, building long-term customer loyalty and positioning the business to win in the multichannel era".
More top news
The retailer said it was "exploring" a company voluntary arrangement to help shore up its financial position.
NHS workers in England are set for a 6.5% pay rise following months of debate over the 1% pay cap.
Although Israel was widely believed to have been behind the airstrike on September 6, it has never before commented publicly on it.