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15/01/2002
Tesco fail to match Sainsbury over Christmas period
Figures from Tesco have revealed that its Christmas sales growth failed to match that of archrival J. Sainsbury.
Excluding takings from petrol stations, Tesco reported a 6.2 per cent rise in UK Christmas sales for the seven weeks ending on January 5 - compared to that of Sainsbury’s who had a rise of 6.8 per cent.
Meanwhile, Britain's fourth-biggest food retailer, Safeway also disappointed on Tuesday, with Christmas sales growth rising 4.1 per cent during a 12 week period over the festive period, raising concerns that it may be falling behind in the UK supermarket sector.
However mainland supermarket chain Somerfield, which ranks just below Safeway, was faring better, successfully managed to pull itself out of the red.
The group reported profits of £5.6m in the six months to 10 November, compared to a loss of £9.5m a year earlier. (MB)
Excluding takings from petrol stations, Tesco reported a 6.2 per cent rise in UK Christmas sales for the seven weeks ending on January 5 - compared to that of Sainsbury’s who had a rise of 6.8 per cent.
Meanwhile, Britain's fourth-biggest food retailer, Safeway also disappointed on Tuesday, with Christmas sales growth rising 4.1 per cent during a 12 week period over the festive period, raising concerns that it may be falling behind in the UK supermarket sector.
However mainland supermarket chain Somerfield, which ranks just below Safeway, was faring better, successfully managed to pull itself out of the red.
The group reported profits of £5.6m in the six months to 10 November, compared to a loss of £9.5m a year earlier. (MB)
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Sony report highest earnings in company’s history
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