Economic news

UK sales rise for sixth straight quarter – Tesco

Tesco, Britain's biggest supermarket, reported its strongest quarterly sales growth for seven years. UK like-for-like sales soared 2.3 percent for the first quarter, a sixth consecutive quarter of growth.

The main goal for this quarter was to protect customers from rising inflation, Tesco Chief Executive Dave Lewis said.

UK inflation accelerates to 2.9 percent, while real wages are falling.

The retailer's shares jumped as much as 4.4 percent in early trading, making it the biggest riser in the FTSE 100 index.


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