Tough quarter for Tesco as sales struggle

Tesco’s UK sales fell slightly during the last quarter as retail conditions remained tough.


Like-for-like UK sales, excluding petrol and VAT were down 1.5% in the 13 weeks to 26 May, reflecting the general decline in market growth.


International sales remained more resilient, despite slowing economic growth in China and new shopping hours legislation in South Korea, so total sales growth slowed only slightly from 2.3% to 2%.


“Against the backdrop of continuing uncertainty in the eurozone, it is pleasing to see that our businesses have largely sustained their performance,” chief executive Philip Clarke (pictured) said.


“Against the backdrop of continuing uncertainty in the eurozone, it is pleasing to see that our businesses have largely sustained their performance.”
Philip Clarke

Tesco saw its biggest ever week outside a Christmas period in the run up to the Diamond Jubilee, with more than £1bn in sales, although those figures were not included in this quarter’s results.


A statement concluded that the outlook was “in line with expectations”.

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