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Tesco (LSE: TSCO) 1Q19 Update: UK Growth Softens, Booker Drives Group Acceleration

Executive Summary

  • Tesco reported a 2.1% increase in comparable sales in its core UK market in 1Q19, a slight slowdown from prior quarters.
  • Supported by very strong underlying growth at Booker, which was integrated in the quarter, Tesco reported group comp growth of 1.8% in 1Q19, up sharply from prior quarters.

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