Tesco in Sheringham: One year on

Retail giant Tesco has announced a 92% slump in profits.

Their sales are falling at the fastest rate in the grocery industry with discount stores such as Lidl and Aldi increasing their share of the market.

The announcement comes a year after the opening of the Tesco store in Sheringham which got the go ahead after a seventeen year planning battle.

There was a great fanfare when the store opened a year ago but there's still plenty of bad feeling in the small seaside town with people boycotting the store.

Two weeks ago 'The Garden Shop' closed. The owner told us that Tesco was the final nail in the coffin.

However there are mixed views from other shopkeepers. At the local butcher's they've seen no difference in trade.

Lots of people ITV Anglia spoke to in Sheringham admitted they use the free Tesco car park and then do their shopping on the town's High Street.

Since opening Tesco has cut the three hour parking limit to two hours from April until September.

At at local cafe on the High Street it's been a good summer but they're not yet counting their chickens.

A year on from the official opening Tesco wouldn't let us film inside the store or on their premises. It wouldn't say if the Sheringham store was in profit but issued a statement.

Click below to watch Natalie Gray's report :