Recession Slows the Tesco Juggernaut

The grocer has posted some of its worst results in 16 years as it tries to withstand pressure from discount rivals and the global downturn

Tesco, the UK's biggest retailer, posted its worst underlying UK sales for 16 years yesterday. The admission raised fresh fears that the juggernaut UK growth of Tesco may be grinding to a halt and that its 30 per cent-plus share of the grocery market may be its as good as it gets.

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