Tesco: sales growth accelerates, recovery confirmed
(CercleFinance.com) - Britain's biggest supermarket group, Tesco, has reported an acceleration in its sales over the first quarter to end-May, confirming that its recovery is continuing.
On Friday morning the retailer reported a 1.8% rise in like-for-like sales for the 13 weeks to 26 May, compared to growth of just +0.4% in the previous quarter.
UK and Ireland like-for-like sales also accelerated in the 13 weeks to 26 May, growing 3.5%, vs. 2.4% in the previous quarter.
Booker - which has been consolidated from March - posted like-for-like sales growth of 14.3%.
Finally, Tesco said like-for-like sales in Asia fell 9%.
These numbers were welcomed by investors, with Tesco shares up 2.2% in early trading today, reaching a new 4-year high of 255.2 pence.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
On Friday morning the retailer reported a 1.8% rise in like-for-like sales for the 13 weeks to 26 May, compared to growth of just +0.4% in the previous quarter.
UK and Ireland like-for-like sales also accelerated in the 13 weeks to 26 May, growing 3.5%, vs. 2.4% in the previous quarter.
Booker - which has been consolidated from March - posted like-for-like sales growth of 14.3%.
Finally, Tesco said like-for-like sales in Asia fell 9%.
These numbers were welcomed by investors, with Tesco shares up 2.2% in early trading today, reaching a new 4-year high of 255.2 pence.
Copyright (c) 2018 CercleFinance.com. All rights reserved.