Tesco's- disappointing Q4 figures

Tesco's  results for Q4 showed Christmas sales 2.3% lower than the same time last year, a day afer Sainsbury turned in record figures for the festive period. This is despite the company's Price Drop campaign that does not seem to be that successful.

Total sales for the period were up 5.2% with the international businesses looking healthy and online sales increasing by 14% across all sectors.

The CEO Philip Clarke said " we are disappointed with our seasonal trading performance in the UK" and he believes the year's profits will be towards the lower end of estimations.