Pursuits
Tesco Sales Growth Hits Five-Year High as Revival Continues
- Customers returning after price cuts, service improvements
- U.K. grocery leader ‘on track’ to meet full-year earnings goal
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U.K. supermarket leader Tesco Plc posted its strongest quarterly sales growth in more than five years and said it had a good Christmas as the grocer continues its revival under Chief Executive Officer Dave Lewis.
Sales at U.K. stores open at least a year rose 1.8 percent in the 13 weeks ended Nov. 26, the Welwyn Garden City, England-based retailer said Thursday, beating the 1.7 percent median analyst estimate. Growth in the following six weeks was 0.7 percent, also ahead of estimates and building on a bumper Christmas the year before.