Tesco UK Sales Rise 1% In First Quarter

Tesco PLC TSCDY reported 1% rise in its first-quarter UK comparable sales including value-added-tax and excluding fuel, versus a 0.2% rise in the previous quarter. Exlcluding VAT and excluding fuel, its sales dropped 0.1%, versus a 0.7% decline in the prior quarter. Group sales, excluding fuel, increased 6.7% and increased 1.6% on a comparable basis. On the international side, Tesco's sales surged 9.3% and 2.8% on a comparable basis, excluding fuel. Tesco reported that group performance is in line with estimates and the forecast for the year remains unchanged. TSCDY shares gained 1.46% to close at $20.15 yesterday. Read more from Benzinga's Company news.