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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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Tesco unveils massive profits
Britain's leading supermarket chain, Tesco, has unveiled profits of £2.2 billion for the past year. The profits increase represents a rise of nearly 17% on the previous year's figures. The supermarket chain's latest figures showed a 13.2% increase in group sales over the last year. Both international and UK sales increased - by 23% and 10.
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Sainsbury’s still behind Tesco’s after strong quarter
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Tesco reveal three-month sales rise
Leading UK supermarket chain Tesco has revealed an 11% rise in sales in the three months to mid-May. The company saw its profits shoot up by 14% to over £1 billion in its last financial year and said recent growth had been driven by a mix of strong performance in the UK core operations and increasing sales of non-food items.
Tesco reveal three-month sales rise
Leading UK supermarket chain Tesco has revealed an 11% rise in sales in the three months to mid-May. The company saw its profits shoot up by 14% to over £1 billion in its last financial year and said recent growth had been driven by a mix of strong performance in the UK core operations and increasing sales of non-food items.
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Northern Ireland WeatherToday:A few fog patches at first, soon clearing to leave a dry day with some patchy cloud and good sunny spells. Light and variable winds. Feeling mild in sunny spells. Maximum temperature 14 °C.Tonight:Dry and quite chilly overnight under prolonged clear spells and light winds. This will allow a few fog patches to develop in places. Minimum temperature 2 °C.
