Summary Box: Weak holiday sales hurt Tesco shares (AP)

BAD CHRISTMAS: Tesco PLC, Britain's biggest retailer by sales, warned that a key sales figure fell 2.3 percent during the holiday shopping season, far worse than analysts had expected. The company said that will hurt profit growth.

CONTEXT: The company cut prices late last year in an effort to draw in customers. But it actually lost market share from a year ago, and the lower prices hurt results.

STOCK SHOCK: Tesco stock tumbled 16 percent Thursday, and shares of several rival retailers fell too.

Source: http://us.rd.yahoo.com/dailynews/rss/britain/*http%3A//news.yahoo.com/s/ap/20120112/ap_on_bi_ge/eu_britain_tesco_summary_box

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