Tesco PLC (TSCO.L, TSCDY.PK) reported that Group sales for the thirteen weeks ending 25 May 2013 increased by 1.8% including petrol at actual exchange rates, and were flat at constant rates. Excluding petrol, Group sales increased by 2.7% at actual exchange rates, and up 0.7% at constant rates. Like-For-Like sales were down 2.6% including Petrol, and were down 2.2% excluding Petrol.
UK total sales including VAT and petrol grew by 0.1% and by 1.0% excluding petrol. UK like-for-like sales, excluding both VAT and petrol, decreased by 1.0% in the quarter.
"Conditions outside the UK remain challenging and we have broadly maintained our performance from the fourth quarter of last year. Whilst we are not expecting economic conditions to improve in the near term, we have a customer-focused plan for the year in each of our markets which takes this into account, and we will maintain a disciplined approach to investment and cash flow as outlined in April," said, Philip Clarke, Chief Executive of Tesco PLC.
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