Tesco 1Q Comparable Revenue Rose, But UK Sales Fell -- Update
17 Junio 2022 - 2:11AM
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, and noted that its full-year guidance for its profit
and cash performance remains unchanged.
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.
Regarding its performance in Ireland, Tesco said that sales fell
by 2.4%. It noted that sales in Central Europe rose by 9%.
"Our material and ongoing investment in the combination of Aldi
Price Match, Low Everyday Prices and Clubcard Prices is removing
the need for customers to shop elsewhere...Customers are facing
unprecedented increases in the cost of living and it is therefore
even more important that we work with our supplier partners to
mitigate as much inflation as possible," Chief Executive Ken Murphy
said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
June 17, 2022 02:56 ET (06:56 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Tesco (LSE:TSCO)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Tesco (LSE:TSCO)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024