Tesco is expected to unveil solid first-quarter results this week, although the UK's number one supermarket chain will admit it has suffered like its competitors at the hands of a consumer spending slowdown.
The chain's like-for-like sales grew by around 5.5 per cent in the 12 weeks to May 24, which represents a decline on the nine per cent annual growth reported for the 12 months to end of February, but nevertheless easily outperforms its closest rivals.
Asda last month revealed that like-for-like sales growth had slowed to low single digits, while Morrisons first quarter rise was 2.3 per cent. Sainsbury's unveils its first-quarter sales on Thursday, and the City forecasts a figure in line with its 1.7 per cent growth in the previous quarter.
Tesco chief Sir Terry Leahy warned in April that sales increases would be "more normal" in 2006.
