UK: Tesco Q1 sales in line, but growth pulling back
Market-leading UK retailer Tesco today [Friday] said its first-quarter same-store sales in the UK were up 4.5%. While this corresponds to analysts' forecasts, it confirms that sales growth has slowed since last year. Analysts see this as proof of their forecast that the overall grocery market is slowing down, rather than evidence that Tesco is in trouble. They expect to see same-store sales growth ease off to between 4% and 5% this year after a lively two years.
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