Tesco braced for latest slump in quarterly sales
Tesco is expected to unveil another significant drop in like-for-like sales when its first-quarter figures are published next week.
Analysts expect the UK’s largest supermarket to record a decline in like-for-like sales of between 1% and 2% for the first three months of its new financial year.
“We would not be expecting Tesco to do anything other than perform in line with the fourth quarter, slightly underperforming the industry,” said Clive Black of Shore Capital.
Tesco suffered a 1.6% drop in like-for-likes in the previous three-month period. Its first-quarter figures will be made public on 11 June.