Tesco CEO said: Market stabilised, situation unclear

Tesco Chief Executive Sir Terry Leahy told the Dow Jones that consumer demand has stabilised after a steep drop in October, but that it is still unclear whether consumers could pull back even more as the economy worsens. Leahy said: "The situation hasn't worsened in the last few months. Whether that's a floor or a ledge, it's hard to say. We'll probably know more in the spring.” He added that consumers typically tighten their budgets in January.

www.planetretail.net