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25/11/2005
Tesco remains strong despite tough market
Leading UK supermarket chain Tesco have unveiled a rise in sales, despite tougher conditions in the retail market.
Britain’s largest supermarket reported an increase in group sales of 13.9% in the third quarter, while UK sales also grew by 11.6%.
Tesco also reported an increase in like-for-like growth of 7.9%, while like-for-like sales growth, excluding petrol, increased by 5.5%.
The group also reported strong sales in its non-food ranges, which includes clothes, CDs and home entertainment. In its trading update, Tesco said that non-food sales had “continued to see double-digit sales growth in the period”.
Tesco’s international growth also increased during the third quarter, with sales increasing by 23.3%. The group confirmed that they were on track to open almost 150 stores abroad during the second half of the year, representing their largest ever opening programme overseas.
Tesco has opened 25 stores in eight countries during the last four weeks, including their first store in Guangzhou, southern China.
Tesco’s dominance of the UK supermarket industry has been strongly criticised by rival supermarket chains, small businesses and environmental groups.
The Competition Commission recently announced plans to investigate the sector.
(KMcA/SP)
Britain’s largest supermarket reported an increase in group sales of 13.9% in the third quarter, while UK sales also grew by 11.6%.
Tesco also reported an increase in like-for-like growth of 7.9%, while like-for-like sales growth, excluding petrol, increased by 5.5%.
The group also reported strong sales in its non-food ranges, which includes clothes, CDs and home entertainment. In its trading update, Tesco said that non-food sales had “continued to see double-digit sales growth in the period”.
Tesco’s international growth also increased during the third quarter, with sales increasing by 23.3%. The group confirmed that they were on track to open almost 150 stores abroad during the second half of the year, representing their largest ever opening programme overseas.
Tesco has opened 25 stores in eight countries during the last four weeks, including their first store in Guangzhou, southern China.
Tesco’s dominance of the UK supermarket industry has been strongly criticised by rival supermarket chains, small businesses and environmental groups.
The Competition Commission recently announced plans to investigate the sector.
(KMcA/SP)
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