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Divisive retailer Tesco's interim management statement is encouraging despite fragile consumer confidence

Tesco Tesco, the world’s third largest retailer by sales, can be an emotive subject. To some, it represents the erosion of independent choice on our high streets. However, to others it is a good place to do the weekly shop. Whatever your opinion, there can be little doubt it is a successful modern retailer operating in 14 markets across Europe, Asia and North America, with around 5,000 stores employing over 470,000 people. In the short term, Tesco, along with others in its sector, is fighting higher inflation, higher taxes and fragile consumer confidence. Despite this, the company’...