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Dow Jones reports that at Tesco’s annual shareholders meeting last week, CEO Terry Leahy said that the company is “confident of sustaining strong growth in the future. I'm confident the business is well placed to meet the challenges ahead."

Leahy made the statement just two weeks after the company warned that it expects the sale of both food and nonfood items to slow.

• The Times of London reported over the weekend that, as expected, Tesco will “lodge an appeal against the findings of the Competition Commission after the latter’s two-year probe into the grocery sector.

“Tesco is expected to say that while it accepts some of the broad recommendations of the report, it does not agree with its ‘competition test’.

“This forms one of the key recommendations of the report and has huge implications for the industry. The test would be applied to planning decisions on large stores and includes action to prevent land agreements restricting competitors from entering the market. The test has been proposed in an attempt to ensure that consumers in areas dominated by one retailer do not lose out.”
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