"This is another example of Tesco diversifying and spreading the risk, " says Piner.

FORBES

These ventures--along with new revenue streams from things like entertainment--will be key to the retailer's growth in Britain, says Piner.

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Mr Piner said there was "very little consumer activity by historic standards" in the second half of January because of the snow.

BBC: Debenhams shares fall after profits warning

"Although the snow will have proved disruptive, the wider problem was that it gave already cautious consumers another excuse not to spend, " said Matt Piner, research director at Conlumino.

BBC: Debenhams shares fall after profits warning

Yet Tesco can, ironically, also thank movie downloads for putting specialist entertainment retailers like Zavvy and Woolworths out of business in Britain last year, thus giving a boost to its own sales of DVDs and books over Christmas, according to Verdict Research retail analyst Matthew Piner.

FORBES: Why has a grocery giant started making movies?