Tesco sales slow but remain on upward trend - News Summed Up

Tesco sales slow but remain on upward trend


The group’s figures were dragged down by a poor performance in its central Europe business TOBY MELVILLE / REUTERSUnderlying sales growth in Tesco’s core UK business slowed at the start of the year as Britain’s biggest supermarket chain faced a “subdued” market. Like-for-like sales, a key industry benchmark, rose 0.4 per cent to £9.1 billion in the UK in the 13 weeks to May 25, its first quarter. Across the group sales were up 0.2 per cent, excluding fuel and VAT, dragged down by a decline of 4.9 per cent in its central Europe business. It was the fourteenth straight quarter of growth but the UK sales figure marked a slowdown on the 1.7 per cent growth in the final quarter of its last financial year and the 2.1 per cent growth during the same period a year earlier. Although it was in…


Source: The Times June 13, 2019 08:03 UTC



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