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18/01/2005
Tesco enjoy record Christmas sales
Leading UK supermarket chain, Tesco, have reported strong growth and record sales over the Christmas and New Year period.
The retailer's Christmas and New Year trading statement revealed that group sales had increased by 13% in the seven weeks up to January 8. Like-for-like sales, excluding petrol, also increased by 7.6%, which, the report stated was similar to the rate of growth reported in the last quarter.
Tesco also reported that its prices excluding petrol, decreased by 1.6%, as the chain invested further in lowering prices for its customers. The supermarket chain had announced an extra £80 million of price cuts on December 31.
Tesco's trading statement also reported strong international sales during the festive period, with an increase of 16.1%, in spite of "tough trading conditions" in some Central European markets.
Tesco indicated that the strong sales performance had made the group "confident" that their turn-out for the year would be in line with current market consensus, despite factors such as higher energy and fuel costs and adverse movements in exchange rates.
Commenting on the trading figures, Tesco said: "We are delighted that our staff delivered our best ever Christmas for customers."
(KMcA/SP)
The retailer's Christmas and New Year trading statement revealed that group sales had increased by 13% in the seven weeks up to January 8. Like-for-like sales, excluding petrol, also increased by 7.6%, which, the report stated was similar to the rate of growth reported in the last quarter.
Tesco also reported that its prices excluding petrol, decreased by 1.6%, as the chain invested further in lowering prices for its customers. The supermarket chain had announced an extra £80 million of price cuts on December 31.
Tesco's trading statement also reported strong international sales during the festive period, with an increase of 16.1%, in spite of "tough trading conditions" in some Central European markets.
Tesco indicated that the strong sales performance had made the group "confident" that their turn-out for the year would be in line with current market consensus, despite factors such as higher energy and fuel costs and adverse movements in exchange rates.
Commenting on the trading figures, Tesco said: "We are delighted that our staff delivered our best ever Christmas for customers."
(KMcA/SP)
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