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Tesco's UK sales growth slows in latest quarter

Tesco's UK sales growth slows in latest quarter
FILE PHOTO: A company logo is pictured outside a Tesco supermarket in Altrincham northern England, April 16, 2016. REUTERS/Phil Noble -
Phil Noble(Reuters)
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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)

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