Tesco concedes rising food prices are causing a ‘resurgence’ at the discounters

Tesco returned to sales growth for the first time since 2009/10 in 2016, with like-for-like sales at its core UK business increasing by 0.9%. Pre-tax profits for the year to 29 February 2017 fell 28% to £145m; a decline that reflected one-off costs it had to make to conclude a separate probe into its 2014 profits scandal.
On balance the results are good news for Tesco, with some analysts claiming they complete a turnaround chief executive Lewis has steered since joining the business back i