Nine months into a plan to overhaul the UK business and one year after its profit warning, Tesco’s (TSCO) Christmas sales figures look relatively underwhelming. In the six weeks to 5 January, group like-for-like sales excluding petrol were up 0.3 per cent. UK like-for-like sales excluding petrol and stripping out sales from clubcard vouchers were broadly in line with expectations, rising 1.4 per cent, boosted by better food and online sales.
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