Tesco 1Q Group Like-For-Like Sales Increase 1.8%
June 15 2018 - 2:46AM
Dow Jones News
By Maryam Cockar
Tesco PLC (TSCO.LN) said Friday that it delivered positive
like-for-like sales growth for a tenth consecutive period in the
first quarter.
For the 13 weeks ended May 26, the U.K.'s biggest grocer by
market share said group like-for-like sales growth was 1.8%
compared with 1% growth a year earlier.
Same store sales for Tesco's core U.K. unit grew by 2.1% vs.
2.3% growth the previous year, the company said.
U.K. and Ireland like-for-like sales increased 3.5% compared
with 2.2% growth a year earlier.
Fresh food like-for-like sales growth was 1% in Central Europe
and 4.5% in Asia, Tesco said.
"Our growth plans are on track and we are pleased with the
momentum in the business. We remain well-placed to serve our
customers better and deliver on our medium-term financial
ambitions. We are delighted with initial progress on Booker, and
are focused on delivering the synergy benefits that our merger
brings," Chief Executive Dave Lewis said.
Write to Maryam Cockar at maryam.cockar@dowjones.com
(END) Dow Jones Newswires
June 15, 2018 02:31 ET (06:31 GMT)
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