date:Jun 03, 2014
said Shore Capital analyst Clive Black.
If UK like-for-like sales are sustained at current levels further downgrades to profit forecasts can be expected, he said.
Analysts expect Clarke to stress Tesco is investing for the long term and emphasize that a weak overall grocery market, reduced promotional and vouchering activity and disruption from its store modernization programme hit business.
Price cuts are also likely to have hurt sales and will take time to be offset by volume gains, leadin