RPT-UPDATE 1-Tesco blames snow as UK sales fall short

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* UK underlying sales up 0.6 pct vs forecast up 1.7 pct

* Overseas sales up 10.1 pct

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LONDON, Jan 13 (BestGrowthStock) – Tesco (TSCO.L: ), the world’s No.3
retailer, posted a 6.2 percent rise in Christmas sales as strong
growth in its overseas markets helped offset a weaker than
expected performance in its main British market.

The supermarket group, which accounts for about one in every
seven pounds spent at British retailers, said on Thursday that
sales at UK stores open over a year rose 0.6 percent excluding
fuel, but including VAT sales tax, in the six weeks to Jan. 8.

That compares with a 1.5 percent rise in its fiscal third
quarter and a forecast increase of about 1.7 percent in a
Reuters poll of 15 analysts. [ID:nLDE70615M]

Tesco, with over 5,000 stores in 14 countries, said
international sales rose 10.1 percent at constant exchange rates
and excluding petrol.

Some British grocers have fared better than many specialist
retailers this Christmas as a trend towards one-stop shopping
was exacerbated by bouts of heavy snow. [ID:nLDE70A1B7]

Rival Sainsbury this week reported a better than expected
3.6 percent rise in underlying sales during the 14 weeks to Jan.
18. [ID:nLDE70A18T]
(Reporting by Paul Hoskins and Mark Potter; editing by Simon
Falush)