This is the sixth consecutive quarter that Tesco has posted like-for-like sales growth as Dave Lewis continues to turn the ship around.
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Tesco chief executive Dave Lewis has said that passing inflationary costs on to UK consumers through increased prices would be a last resort. Lewis said he recognised there is real cost inflation for many suppliers due to the depreciation in sterling since the Brexit vote but added that Tesco and its suppliers needed to work in partnership to offset it.
However, the reality is that food prices on Tesco shelves have been increasing due to inflationary pressure as Lewis confirmed to investors that food prices at its UK stores had risen by 1.4% between February and March this year.
The Tesco chief was speaking after Tesco revealed a 1% increase in like-for-like group sales for the first quarter of its financial year. This is the sixth consecutive quarter that Tesco has posted like-for-like sales growth as Lewis continues to turn the ship around.
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The positive trading performance was driven by strong sales growth of 2.3% at its UK stores, with sales via Tesco’s online grocery sales channel increasing close to 5%. In Ireland, Tesco reported a marginal (0.2%) increase in sales.
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Tesco chief executive Dave Lewis has said that passing inflationary costs on to UK consumers through increased prices would be a last resort. Lewis said he recognised there is real cost inflation for many suppliers due to the depreciation in sterling since the Brexit vote but added that Tesco and its suppliers needed to work in partnership to offset it.
However, the reality is that food prices on Tesco shelves have been increasing due to inflationary pressure as Lewis confirmed to investors that food prices at its UK stores had risen by 1.4% between February and March this year.
The Tesco chief was speaking after Tesco revealed a 1% increase in like-for-like group sales for the first quarter of its financial year. This is the sixth consecutive quarter that Tesco has posted like-for-like sales growth as Lewis continues to turn the ship around.
The positive trading performance was driven by strong sales growth of 2.3% at its UK stores, with sales via Tesco’s online grocery sales channel increasing close to 5%. In Ireland, Tesco reported a marginal (0.2%) increase in sales.
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