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Tesco 'disappointed' by its UK Christmas trading

12 January 2012 Last updated at 13:28 GMT

Tesco shares have dropped 10% after the retailer said it was "disappointed" by its seasonal trading in the UK.

Like-for-like sales, which exclude the effects of new store openings, fell 2.3%, excluding fuel and VAT.

Tesco's latest sales figures were released on a day when a whole host of UK retailers also announced how they had fared over the crucial Christmas trading period.

Robert Peston reports.