Tesco suffers fresh fall in British sales

Supermarket giant Tesco said on June 11 that British sales sank further in the group's first quarter, just two months after the retailer had pledged to revive its ailing domestic operations. Sales at British stores open for at least a year dropped 1.5 percent in the 13 weeks to May 26, excluding petrol and sales tax, compared with the same period a year earlier, it said in a trading update.
That was in line with market expectations but marked a slight improvement on the 1.6-percent decline experienced the previous quarter.
Britain's biggest retailer added that total group sales increased by 2.2 percent during the first quarter.
The group had pledged in April to invest £1.0 billion in a bid to transform the fortunes of its domestic activities, which have been hit by souring consumer sentiment and the weak economy.