Oct 4, 2017

Tesco hails strong progress as sales rise again

Tesco chief executive Dave Lewis has hailed "Strong progress" at the supermarket as sales rose for the seventh quarter in a row. Like-for-like sales, which strip out new store openings, rose 2.1% in the second quarter. Tesco said that despite "Challenging" market conditions, it had "Worked hard to minimise price increases". The results come as Tesco is awaiting the results of an in-depth competition probe into its proposed £3.7bn takeover of wholesale giant Booker. The CMA has said there are 350 areas where there is an overlap between Tesco shops and Booker-supplied independent stores.

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