Tesco 1Q Comparable Revenue Rose, But UK Sales Fell
17 Junio 2022 - 1:53AM
Noticias Dow Jones
By Sabela Ojea
Tesco PLC said Friday that like-for-like sales rose in the first
quarter of fiscal 2023, although U.K. revenue had a hit on an
on-year basis.
The British grocer said like-for-like sales excluding
value-added tax and fuel for the three months ended May 28
increased by 2% to 13.57 billion pounds ($16.76 billion). Sales in
the U.K. fell by 1.5% to GBP9.88 billion in the period, it
said.
Tesco said it gained 37 basis points in market share growth in
the U.K. despite the lower sales. The company said its performance
was affected by the annualization of last year's pandemic-related
lockdown, which was partially offset by inflation.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
June 17, 2022 02:38 ET (06:38 GMT)
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