date:Apr 15, 2013
sting flattish underlying UK sales growth for Tesco's entire fourth quarter, with trading possibly hit by a Europe-wide horsemeat scandal, which found that some beef products sold by Tesco and other grocers, including Asda, contained horse.
Christmas trading was acceptable, certainly not a disaster, but it's not like they're hitting any home runs yet, said Kennox's Heenan.
Though Tesco's shares have increased 18 percent over the last six months, they trade on 12 times forecast earnings, below