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Tesco expected to reveal fall in sales

Tesco is expected to reveal a fall in like-for-like sales of between 2% and 3% for the 13 weeks to May 30, the Guardian reports.

If the predictions from City analysts are correct, this would be an improvement on its first quarter performance last year but a slowdown from Christmas.

The results will be revealed ahead of the supermarket’s annual general meeting on Friday, at which bosses are expected to face questions over its executive pay.

In February Tesco revealed plans to pay more £1.2m in golden goodbyes to former boss Philip Clarke and almost £1m to ex-finance director Laurie McIlwee.

Meanwhile, it has also emerged that Edwina Dunn and Clive Humby, the couple who helped to create the Tesco Clubcard, are considering involvement in a bid for Dunnhumby, the data analysis company they founded 30 years ago.

  • Bosses at Britain’s supermarkets could be forced to apply for a licence to work in the industry under a push to clamp down on supply chain abuse and malpractice, the Telegraph reports. The Chartered Institute of Procurement and Supply wants to force retail workers who deal with suppliers, such as buyers, to have a licence.

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