June 13, 2019
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)