Tesco – Crossing The Finish Line As Spending Normalises
First quarter like-for-like (LFL) sales rose 1% to £13.4bn, as Tesco PLC (LON:TSCO) laps the heightened demand from the pandemic this time last year. 0.5% growth in the UK (75% of total sales) and 9.2% growth in Wholesale business Booker (13% of sales), offset declines in the Republic of Ireland and Central Europe. Q1 2021 hedge fund letters, conferences and more In the UK, online sales grew 22.2% on last year, but these are up over 80% on a two-year basis. General Merchandise and Clothing LFLs rose 10.3% and 52.1% respectively. Tesco Bank sales fell 10%. The profit guidance from April is unch...