Clarke concedes ‘We must do better’ as Tesco falters in fourth quarter

Tesco has admitted it must do better in its home market after UK sales fell in the final three months of the year. Profits at the retail giant rose by more than 12% to a record £3.8bn in the year to 26 February. But Tesco again relied on its overseas business to drive much of the growth, with profits at its Asian business up 17%.