You are here: Home » Reuters » News
Business Standard

Unwanted gifts spoil Tesco's Christmas

Reuters  |  LONDON 

By Paul SandleLONDON (Reuters) - Tesco's Christmas trading missed forecasts as strong food sales were offset by weak demand for items such as DVDs and computer games, showing that even Britain's biggest supermarket chain is feeling the strain as consumers curb their spending.Market research this week had identified Tesco as a festive winner, but the group said lower sales of general merchandise and the collapse of a tobacco supplier cast a shadow over a record week of trading before Dec. 25.Britons, whose spending power has been squeezed by inflation, prioritised food this Christmas and cut ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, January 11 2018. 18:45 IST
RECOMMENDED FOR YOU