Companies

Dec 8: Tesco loses momentum

Tesco, the UK's biggest supermarket chain published a third-quarter trading update on Tuesday that showed that its UK like-for-like sales rose 2.8 per cent in the 13 weeks to November 28, after excluding petrol sales and adjusting for VAT. But that indicates a decline in its sales momentum. Adam Jones, senior companies reporter, explains why a fall in food price inflation has taken its toll.