Asda and Morrisons have pledged to cut prices,while Sainsbury's has vowed to remain competitive,raising analysts' concerns about a possible
price war hitting earnings across the industry.
"I'm not making any promises about sales improvement in the next few quarters",Clarke told reporters.
The result at Tesco is two straight years of profit decline and forecasts for a third in the 2014-15 year after Clarke guided in April that same store sales would be negative for some time.