Blog: Tesco has its "fingers crossed"
Dean Best | 5 December 2007
Try not to be fooled by the accelerated growth in UK retail sales in November.
Discounts are believed to have driven the increased spending, which has lead many to believe consumers will be watching the pennies this Christmas.
Tesco’s finance chief Andrew Higginson gave away some of the sector’s pessimism with a call for the Bank of England to cut interest rates.
Higginson told the Thomson Financial News Agency that shoppers were being “very cautious” and that he is keeping his “fingers crossed” during the key Christmas period.
He’s unlikely to be alone.
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