date:Jun 12, 2012
The retailer reported like-for-like UK sales, excluding petrol and VAT, down by 1.5% in the 13 weeks to 26 May. The firm described the trading period asa challenging quarter for the industry as a whole.
City analysts Clive Black and Darren Shirley noted that there was no profit warning, whichis an important foundation to the rebuilding of Tescos investment credentials,they said.
Black and Shirley added that Tescos performance wasin-line with our expectations with a slightly better out-turn in