Tesco’s UK sales growth slows in latest quarter

Tesco’s UK sales growth slows in latest quarter

FILE PHOTO: A Tesco supermarket is seen, in west London on September 30, 2008. . REUTERS/Toby Melville/File Photo

LONDON (Reuters) – Tesco, Britain’s biggest retailer, said underlying sales growth slowed in its latest quarter, partly reflecting a tough comparative number in the same period last year.

The group said on Thursday Tesco UK like-for-like sales rose 0.4% in the 13 weeks to May 25. That was a 14th straight quarter of growth and compared to analysts’ forecasts in a range of flat to up 1%, and growth of 1.7% in the previous quarter.

Tesco said it had grown ahead of a subdued UK market on both a volume and value basis.

Group like-for-like sales rose 0.2% in the period.

Reporting by James Davey, Editing by Paul Sandle

Related posts