Tesco remains The Share Centre's favourite supermarket

Graham Spooner, investment adviser at The Share Centre explains that despite poor UK sales Tesco remains his sector pick for investors.

"These are disappointing results for our sector pick. However, investors should not be put off by this as Tesco remains a long term ‘buy' - any weakness in share price should be seen as an opportunity to add the supermarket giant to a portfolio.

"We feel that Tesco's international presence is its main attraction and it was the saving grace of these results as international sales rose 14.2%. Asia leapt 24.2%, led by China and Thailand, sales in Europe grew 5.6%, or 9.1% at constant currency, while Fresh & Easy stores in the US increased sales by 36.9%.

"The snow and icy weather in the UK has been blamed for weaker than expected results in the six weeks up to 8 January 2011, as like for like sales were up just 0.6% and total sales grew 4.2% - underperforming all its major rivals.

"We like Tesco's attractive international earnings, good cash flow and the potential for sustainable growth, and are keen to see how they will fare in 2011."