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12/01/2010
Tesco Reports Strong Festive Sales
Retail giant Tesco enjoyed a three-year sales high over Christmas 2009.
Sales during the six weeks proceeding 9 January - excluding new stores, VAT and fuel - grew by 4.9%.
Tesco said double club card points could be attributed to 0.7% of this year-on-year increase.
Meanwhile, department store chain Debenhams said festive sales had remained relatively unchanged.
Over the last quarter of 2009, sales improved by 0.1% compared to the same period in 2008.
Tesco shares rose 2.3% in early trading to 427.45 pence.
According to the retailer, its Finest range performed particularly well.
Non-food sales were also strong, namely clothing and electrical.
Tesco finance director Laurie McIlwee said supply chains had worked well, despite claims some in-store shelves were empty.
Debenhams' Chief Executive Rob Templeman said sales were as forecast.
"Our continued focus on cash margin means that for the second year in succession we have delivered an increase in profit before tax over the Christmas trading period," he said.
(PR/BMcC)
Sales during the six weeks proceeding 9 January - excluding new stores, VAT and fuel - grew by 4.9%.
Tesco said double club card points could be attributed to 0.7% of this year-on-year increase.
Meanwhile, department store chain Debenhams said festive sales had remained relatively unchanged.
Over the last quarter of 2009, sales improved by 0.1% compared to the same period in 2008.
Tesco shares rose 2.3% in early trading to 427.45 pence.
According to the retailer, its Finest range performed particularly well.
Non-food sales were also strong, namely clothing and electrical.
Tesco finance director Laurie McIlwee said supply chains had worked well, despite claims some in-store shelves were empty.
Debenhams' Chief Executive Rob Templeman said sales were as forecast.
"Our continued focus on cash margin means that for the second year in succession we have delivered an increase in profit before tax over the Christmas trading period," he said.
(PR/BMcC)
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