The Traderszone Network

Published in TZ Latest News 25 June, 2015 by The TZ Newswire Staff

Tesco sales down less than expected in first quarter

Britain’s biggest supermarket chain Tesco (TSCO.L) said sales had declined less than expected in its first quarter, suggesting a tentative recovery in its key home market could be starting to move onto a stronger footing. Tesco, which endured a horrendous 18 months marred by profit warnings, a record statutory loss and an accounting scandal, said on Friday sales at British stores open for more than a year fell 1.3 percent over the 13 weeks to May 30, compared with forecasts of a decline of between 1.6 percent and 3 percent by analysts polled by Reuters.

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