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Tesco sales growth overshadowed by Amazon's Whole Foods move

Reuters  |  LONDON 

By James DaveyLONDON (Reuters) - Tesco , Britain's biggest retailer, reported its strongest quarterly sales growth in seven years on Friday but its stellar performance was overshadowed by news of Amazon's $14 billion takeover of Whole Foods Market .Shares in Tesco rose as much as 4.4 percent in early trading as its first quarter trading update showed it was successfully navigating an increasingly inflationary UK trading environment.But they ended the day down 4.9 percent as investors fretted over the implications for major supermarkets of an accelerated push by e-commerce giant Amazon into ...

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First Published: Sat, June 17 2017. 00:10 IST