Tesco reported a sixth consecutive quarter of organic growth in Q1 FY17 (trading update). Lfl sales increased by 1% (vs consensus: +1.6%), largely due to strong demand emanating in the UK (+2.3% lfl; 1.6% volume growth in fresh food with a significant market outperformance). However, International sales slumped 3% organically, largely due to the discontinuation of unprofitable bulk-selling activity in Thailand (-0.6% impact on group lfl, -2.7% on International operations and -5.8% on Asia). R
18 Jul 2017
Good Q1 results; consistency is the key
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Good Q1 results; consistency is the key
Tesco PLC (TSCO:LON) | 283 4 0.5% | Mkt Cap: 19,910m
- Published:
18 Jul 2017 -
Author:
Nishant Choudhary -
Pages:
3
Tesco reported a sixth consecutive quarter of organic growth in Q1 FY17 (trading update). Lfl sales increased by 1% (vs consensus: +1.6%), largely due to strong demand emanating in the UK (+2.3% lfl; 1.6% volume growth in fresh food with a significant market outperformance). However, International sales slumped 3% organically, largely due to the discontinuation of unprofitable bulk-selling activity in Thailand (-0.6% impact on group lfl, -2.7% on International operations and -5.8% on Asia). R