Tesco PLC says 1Q sales up 13.7 pc but UK sales growth rate slows

Tesco PLC, Britain's largest grocer, reported Tuesday that group sales rose 13.7 percent in the first quarter but that the rate of sales growth in nonfood categories in its core U.K. market had slowed.

Analysts said the report was at the lower end of market expectations.

The company's sales growth in the 13 weeks ending May 24 was led by a strong performance outside Britain, with so-called international sales up 26.6 percent at actual exchange rates and by 13.9 percent at constant rates. Sales in Europe were up 32.4 percent at actual rates and sales in Asia was up 16.7 percent.

At home, total sales were up 9.4 percent led by the soaring prices of …