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Tesco sales growth disappoints

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Tesco sales growth disappoints

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British supermarket chain Tesco has posted quarterly sales growth that was towards the bottom end of forecasts due to the recent fall in food price inflation.

But the world’s third largest retailer said a gradual consumer recovery remained on track. Tesco, which has over 4,300 stores in 14 countries, said strong growth in Asia offset a flat performance in Europe. Tesco shares lost 2.3 percent and other food retailers fell back on the news.