Tesco hit by drop in UK sales

Tesco sales are falling at the fastest rate in the grocery industry as ongoing price wars continue to benefit shoppers and squeeze the major retailers.

The UK supermarket, which is expected reveal a steep fall in half-year profits on Thursday after a £250m shortfall in its accounts, saw its sales fall 3.6% in the 12 weeks to October 12, according to data from Kantar Worldpanel.