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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Tesco    TSCO   GB0008847096

TESCO (TSCO)
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Tesco : Reports Growth in Quarterly Sales

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06/16/2017 | 08:41am CEST

By Tapan Panchal

LONDON--Tesco PLC (>> Tesco) Friday reported positive like-for-like sales growth for a sixth consecutive quarter and said it is working with suppliers to offset impact of inflation.

The supermarket chain, which earlier this year agreed to buy food wholesaler Booker Group PLC (>> Booker Group) in a 3.7 billion pounds ($4.72 billion) cash and stock deal, said group like-for-like sales for the 13 weeks to May 27 grew by 1.0%, compared with 0.9% growth achieved in the year ago period. Total group sales, excluding fuel and value added tax, grew 3.6% versus 1.8% growth a year ago.

Same store sales for the retailer's core U.K. unit grew by 2.3%, versus 0.3% growth achieved a year ago. The rise in U.K. sales was mainly driven by 2.7% like-for-like sales growth in the company's food division.

"This is a good start to the year, with our sixth consecutive quarter of positive like-for-like sales growth across the group. We are confident in our plans to create long-term, sustainable value for our key stakeholders and to deliver on the ambitions we have set out," said Chief Executive Dave Lewis.

Write to Tapan Panchal at [email protected]

Stocks mentioned in the article : Tesco, Booker Group
Stocks mentioned in the article
ChangeLast1st jan.
BOOKER GROUP 0.00%-End-of-day quote.-2.18%
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Financials ( GBP)
Sales 2019 62 518 M
EBIT 2019 2 032 M
Net income 2019 1 206 M
Debt 2019 2 887 M
Yield 2019 2,05%
P/E ratio 2019 18,88
P/E ratio 2020 15,40
EV / Sales 2019 0,43x
EV / Sales 2020 0,40x
Capitalization 24 028 M
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 2,52  GBP
Spread / Average Target 2,6%
EPS Revisions
Managers
NameTitle
David Lewis Group Chief Executive Officer & Director
John Murray Allan Non-Executive Chairman
Antony John Hoggett Chief Operating Officer & CEO-Asia Region
Alan J. H. Stewart Chief Financial Officer & Executive Director
Guus Dekkers Chief Technology Officer
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