LONDON: Britain's biggest retailer Tesco said it saw no let up in sight as it posted a 6% fall in annual profit, its second straight year of decline, piling pressure on Chief Executive Phil Clarke.
The group, the world's No 3 retailer, showed trading had deteriorated throughout the 12 months, with the key figure of sales at its British stores open over a year, excluding fuel and VAT sales tax, down 3% in the fourth quarter, its worst drop in Clarke's three-year tenure.
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