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Tesco Plc (LON:TSCO) reports 0.2% growth in like-for-like sales during Q1 fiscal 2020

  • Tesco Plc (LON:TSCO) reported today a 0.2% increase in like-for-like sales across the group during Q1 fiscal 2020.
  • The UK’s largest grocer attributed the gains to higher sales in its UK and Irish markets.

The retailer reported that overall group sales were £13.99 billion ($17.79 billion) during the first quarter of fiscal 2020, which ended on 25th May.
The grocery store added that revenues generated in the UK and the Republic of Ireland totalled £11.17 billion, which equates to a 0.8% increase in like-for-like sales.
Dave Lewis, Tesco’s CEO, explained that:
“We have had a strong start to the year, growing ahead of the U.K. market on both a volume and value basis.”