Tesco logs subdued quarterly sales

14 Jun, 2019

Britain's biggest retailer Tesco on Thursday posted subdued sales for the first quarter of its financial year, citing poor consumer sentiment in its Brexit-facing home market. Sales rose 0.4 percent to £14 billion ($18 billion, 16 billion euros) in the three months to May 25 from a year earlier, Tesco said in a trading update.
In Britain, sales fell 0.4 percent in the first quarter but rose 0.4 percent on a like-for-like basis - which strips out the impact of new floor space.
The same period of the company's previous financial year had been boosted by a royal wedding and hot weather conditions.

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