Tesco sales slow down in ‘subdued’ UK market

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"1">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>Supermarket giant Tesco has seen UK sales growth slow in its first quarter as it blamed weak consumer confidence and volatile weather&period;<&sol;p>&NewLine;<p>The group reported UK like-for-like sales growth of 0&period;4&percnt; for the 13 weeks to May 25&period;<&sol;p>&NewLine;<p>The group said it outperformed a &OpenCurlyDoubleQuote;subdued” overall grocery market&comma; but the result marks a sharp slowdown from the 1&period;7&percnt; growth in the previous three months&period;<&sol;p>&NewLine;<p>Total UK sales were also under pressure&comma; down 0&period;4&percnt; as it was hit by its decision to close non-food arm Tesco Direct last July – a move which impacted sales growth by 0&period;8&percnt;&period;<&sol;p>&NewLine;<p>Across the UK and Ireland&comma; comparable sales lifted 0&period;8&percnt;&comma; down from 1&period;9&percnt; in the previous three months&period;<&sol;p>&NewLine;<p>Chief executive Dave Lewis said alongside weaker consumer sentiment&comma; there had also some &OpenCurlyDoubleQuote;challenges” in the quarter around weather and tough comparisons from a year earlier&comma; when trade was boosted by events such as the royal wedding&period;<&sol;p>&NewLine;<p>He added&colon; &OpenCurlyDoubleQuote;There’s some weakness in consumer sentiment in the UK&period; Clearly part of that is down to the political situation&period; The other element is the weather&period;”<&sol;p>&NewLine;<p>Volatile weather in the UK in recent months has impacted sales of seasonal products&comma; such as clothing&comma; according to the group&period;<&sol;p>&NewLine;<p>But UK online grocery sales proved resilient&comma; up 7&percnt; in the quarter&period;<&sol;p>&NewLine;<p>Total group like-for-like sales edged 0&period;2&percnt; higher in the first quarter&period;<&sol;p>&NewLine;<p>Tesco Bank saw a 1&period;9&percnt; drop in revenues to £270 million&period;<&sol;p>&NewLine;<p>On its recent decision to put its mortgage business up for sale&comma; impacting 23&comma;000 customers who collect Tesco Clubcard points through the home loans&comma; Tesco said the process was still ongoing&period;<&sol;p>&NewLine;<p>It added it was too early to comment on plans to offset any potential loss of Clubcard points to the borrowers&period;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68ed0e636d243">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; function &lpar;&rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; false &equals;&equals;&equals; &lpar; window&period;isWatlV1 &quest;&quest; false &rpar; &rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&sol;&sol; Use Aditude scripts&period;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings &equals; window&period;tudeMappings &vert;&vert; &lbrack;&rsqb;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings&period;push&lpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;divId&colon; 'atatags-dynamic-belowpost-68ed0e636d243'&comma;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;format&colon; 'belowpost'&comma;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub; &rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; document&period;readyState &equals;&equals;&equals; 'loading' &rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;document&period;addEventListener&lpar; 'DOMContentLoaded'&comma; window&period;getAdSnippetCallback &rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub; else &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback&lpar;&rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<&sol;script>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>


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