Tesco’s latest TV ad airs tonight promising customers that “prices are coming down and staying down”.

Tesco, which today reported a 3.7% slump in like-for-like sales in its first quarter, will air the ad across terrestrial and digital channels, and also during Coronation Street tomorrow.

Tesco chief executive Philip Clarke said: “The new ad is simple and just tells customers our prices have come down and they’re staying down.”

Tesco's latest TV ad airs tonight

The ad was created by ad agency TAG.

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Tesco reports 3.7% like-for-like slump in first quarter

Tesco has reported a like-for-like sales slump in its first quarter

Tesco has reported a 3.7% slump in like-for-like sales excluding petrol in its first quarter, blaming market conditions and a reduction in “indiscriminate” couponing.