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Tesco acquisition target Booker's Q1 like-for-like sales up 4.2 pct
July 5, 2017 / 6:14 AM / 5 months ago

Tesco acquisition target Booker's Q1 like-for-like sales up 4.2 pct

LONDON, July 5 (Reuters) - Booker Group, the wholesaler Tesco is trying to buy for 3.7 billion pounds ($4.8 billion), said like-for-like sales rose 4.2 percent in its first quarter, helped by favourable weather and the late Easter.

Non tobacco sales grew by 9.6 percent on a like-for-like basis in the 12 weeks to 16 June, the company said on Wednesday. Tobacco sales continued to be adversely impacted by changes in tobacco legislation, and were down 7.9 percent on the same basis.

Analysts at HSBC had expected non-tobacco like-for-like sales growth to come in at around 5 percent for the third quarter running. ($1 = 0.7742 pounds) (Reporting by Paul Sandle)

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