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Tesco reports strongest UK sales growth for seven years

Reuters  |  LONDON 

LONDON (Reuters) - Tesco, Britain's biggest retailer, reported its strongest quarterly sales performance for its home market in seven years on Friday as it navigated an increasingly inflationary trading environment. Tesco, which in January agreed to buy wholesaler Booker for 3.7 billion pounds ($4.7 billion), said UK like-for-like sales rose 2.3 percent in the 13 weeks to May 27, its fiscal first quarter - a sixth straight quarter of growth.The outcome was ahead of analysts' forecasts, in a range of up 1.7-2.0 percent, and built on growth of 0.7 percent in the previous quarter.Tesco said ...

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First Published: Fri, June 16 2017. 12:15 IST