Sales of UK’s biggest retailer Tesco increased by 0.5% in the 13 weeks to May 29, down from previous 8.8% gain, according to the company’s press release.

  • The retail slip was better than expected 1% drop, but below the same quarter of 2019 when like-for-like sales surged by 9.3%.
  • General merchandise and clothing recorded a 10.3% and 52.1% jump in sales respectively, as social connections started to rise.
  • Tesco’s online sales gained 22.2% year over year and were up 81.6% on a two-year basis.
  • Group sales were 13.4 billion pounds or $18.6 billion, up 1% year over year.

Tesco maintained its retail operating profit for the fiscal year 2021-22 amid uncertain market outlook.

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