Tesco Christmas Comparable Sales Excluding Fuel Down 0.8%
09 Janeiro 2020 - 5:06AM
Dow Jones News
By Matteo Castia
Tesco PLC (TSCO.LN) said Thursday that like-for-like sales
excluding fuel for the six-week Christmas trading period fell 0.8%,
led by the negative impact of its secondary markets.
The U.K. grocer said that for the total 19 week period ended
Jan. 4 like-for-like sales fell 0.9% to 21.03 billion pounds
($27.58 billion). Tesco highlighted the continued positive
performance of its core market in U.K. and Ireland, while secondary
markets in Asia and Central Europe continued underperforming.
Specifically, sales in Central Europe dropped by 9.1% during the
Christmas period while sales for its core U.K. and Republic of
Ireland region rose 0.4%.
Tesco said that no decision has been made about its businesses
in Thailand and Malaysia. It said on Dec. 8 that the board was
reviewing options for these businesses, including a possible
sale.
The Wall Street Journal reported on Jan. 3 that the grocer was
seeking bids for its supermarket businesses in Asia, which have a
potential value of as much as $9 billion, citing people familiar
with the matter. The people told the Journal that the first round
of bids were due by middle of January.
Tesco declined to comment when approached by the Journal at the
time.
Write to Matteo Castia at matteo.castia@dowjones.com
(END) Dow Jones Newswires
January 09, 2020 02:51 ET (07:51 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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