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| Name | Symbol | Market | Type |
|---|---|---|---|
| Tesco PLC (PK) | USOTC:TSCDY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.2375 | 1.91% | 12.6975 | 12.50 | 12.79 | 12.6975 | 12.50 | 12.50 | 259,101 | 21:18:30 |
From Jul 2019 to Jul 2024
By Saabira Chaudhuri
LONDON--Britain's largest retailer, Tesco PLC, posted a smaller- than-expected drop in same-store sales for the first quarter, in a sign that its turnaround plan is beginning to bear fruit.
The company reported U.K. same-store sales excluding petrol in the three months through May 30 fell 1.3% from a year earlier, which is better than the 2.3% drop forecast by analysts at Barclays. International sales dropped by 1%, leaving Tesco with an overall decline of 1.3%.
Under new Chief Executive Dave Lewis, Tesco has been working to regain some of the traction it had before a period of slumping sales hammered profit, while the company's reputation was tarnished by an accounting scandal. In April, Tesco reported the steepest ever full-year loss for a British retailer amid a raft of charges, capping the most tumultuous year in its 96 year history.
On Friday, Tesco said more customers were shopping at Tesco, and that service had improved as had product range.
Write to Saabira Chaudhuri at saabira.chaudhuri@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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