Tesco reports tenth consecutive quarter of sales growth

Galtero Lara
Junio 18, 2018

Despite this, Tesco said seasonal categories performed particularly well.

Group like-for-like sales at Tesco, which strip out new shops, rose 1.8pc in the 13 weeks to May 26, marking a 10th consecutive quarter of growth, and came despite falling sales in Asia and Europe.

Similarly, Booker, which Tesco bought for £3.7bn a year ago, had a rise of 1.4% in sales during the quarter.

Lewis said: "Getting Tesco lines into Booker was always going to be later than getting Booker into Tesco".

Shares in Tesco (TSCO.L) rose as much as 3 percent on Friday after the group also said it was delighted with initial progress at wholesaler Booker, which it acquired in March, and was on track to deliver its medium-term financial targets.

Commenting on the first quarter trading, Dave Lewis, Tesco's Chief Executive said in a media statement: "Our growth plans are on track and we are pleased with the momentum in the business".

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Tesco, which has been rebuilt by Lewis after a 2014 accounting scandal capped a downturn in trading, dominates Britain's supermarket sector by a clear margin, with a 27.7 percent market share, according to industry data.

Like-for-like sales at Booker during the quarter increased by 14.3 per cent, including tobacco.

Spoon Guru enables online shoppers at Tesco to filter their food searches, typing their food intolerances such as lactose or nuts, or selecting whether they want vegetarian, vegan, low fat, and low salt items, and more easily find suitable products for their dietary requirements. Earlier this month, the supermarket came under scrutiny for handing its boss a £5m pay package, which was branded "excessive" by shareholder advisory group Pirc.

Admittedly, UK like-for-like sales growth of 2.1% is slightly slower than the 2.3% growth rate seen in last year's final quarter, yet the result is still highly positive given the adverse weather conditions which hit the UK in March, keeping shoppers indoors.

In April the group reported pre-tax profits of £1.3bn for the year to 24 February, up from £145m for the year before.

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