Tesco reports declining sales

<p>Sales fell at Tesco in the third quarter.</p>

Supermarket company Tesco has confirmed it saw a significant drop in its sales during the third quarter of the year.

The business had a 1.5 per cent fall in like-for-like sales in the UK between July and September.

Its dropping sales come only a few weeks after it was confirmed by Tesco in October that its profits were 23.5 per cent lower in the first half of the year.

In a statement, chief executive Martin Clarke claimed pressures on household budgets are creating a challenging trading environment for the country's largest supermarket chain.

Tesco also revealed it is focusing on revamping its online shopping offering, with the firm aiming to provide one-hour delivery slots and "click and collect" drive-through locations.

Despite the fall in UK sales in its latest financial results, the share price of Tesco is up in the early stages of trading this morning (December 4th).

At 08:22 GMT, its stocks were selling around two per cent up on the start of the session.

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