Supermarket chain Tesco (LON:TSCO) saw 1.8% group like-for-like growth during the 13 weeks ended 26th May, with the relatively recently acquired Booker portfolio growing by 14.3%. This was the tenth successive quarter of sales growth for the group. Operations in Central Europe and Asia had reasonable performances in fresh food, but were set back by specific market conditions. General merchandise performed poorly, despite a few seasonal bright spots.
Management said that the firm’s growth plans were on track and that they were pleased with the current momentum. Shares in Tesco were 256.70p at 1600 BST, a rise of 2.76% over this morning’s open.