Britain's biggest retailer Tesco suffered its largest quarterly drop in sales for four decades, it said on Wednesday, hit by supermarket price wars and the rising popularity of German-owned discounters.
Tesco, the world's third biggest supermarket group, is facing fierce competition from Lidl and Aldi, as well as from traditional supermarket rivals comprising Wal-Mart division Asda, Sainsbury's, William Morrison and Waitrose.