MARKET TALK: Tesco UK LFL Sales Tad Disappointing - Analyst

15th Jun 2010 07:59

0659 GMT [Dow Jones] Tesco's (TSCO.LN) 1Q like-for-like sales growth of 0.1% ex-VAT are a tad disappointing, but expectations were pretty low, given the moves in petrol and food prices, says Arden Partners analyst Nick Bubb. Notes international sales are solid enough, and says "the detailed and honest statement should get a few brownie points." Adds he will need to see Sainsbury's (SBRY.LN) 1Q tomorrow to put things in context, but in principle would be a buyer of Tesco at these levels. Shares closed Monday at 392p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 15, 2010 02:59 ET (06:59 GMT)