Tesco maintains quarterly growth as turnaround gathers momentum | Progresiv
Tesco Plc reported a second straight quarter of U.K. sales growth, the first time it’s done so in five years as the grocer’s turnaround gathers momentum. 
Excluding fuel, U.K. same-store sales rose 0.3 percent in the 13 weeks to May 28, Britain’s largest retailer said. That compares with the median of 13 analysts’ estimates for a 0.2 percent increase.
The sales growth marks another step for Chief Executive Officer Dave Lewis in his effort to revive the grocer after years of declining market share and an accounting scandal. To help sharpen management’s focus, Lewis this month jettisoned its Turkish grocery business as well as its U.K. garden-center and restaurant chains. That process continued with the sale of the unprofitable Harris & Hoole coffee-shop chain.
In the grocer’s other European businesses, same-store sales rose 2.8 percent. Businesses in Asia recorded growth of 3.3 percent. (www.esmmagazine.com)
