Tesco Sales Rise as Market Share Increases Despite Tough Competition
U.K. grocer Tesco TSCO 2.60%increase; green up pointing triangle maintained its full-year expectations after sales climbed in its fiscal first quarter, when it continued to gain market share despite fierce competition in the sector.
The supermarket chain on Thursday posted 16.38 billion pounds ($22.19 billion) in group sales excluding value-added tax and fuel for the 13 weeks ended May 24, rising 4.6% on a like-for-like basis.
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