All rise for Tesco
Group sales for the thirteen weeks ending 27 May 2006 increased by 10.4%.
Total UK sales were up 9.0%, showing solid growth in competitive markets. Excluding petrol, like-for-like sales for the quarter increased by 4.5% with deflation of 1.4%. Like-for-like sales including petrol grew by 5.5%. Net new stores contributed 3.5%.
International sales were up 15.1% at constant exchange rates and by 15.3% at actual rates.
Tesco said it was on track to deliver the largest ever programme of new store openings this year, which will provide more than six million square feet of new selling space in International. A further one million square feet will be added through the acquisition of the 11 Carrefour stores in the Czech Republic.
Chief Executive, Terry Leahy said ‘We’ve made a good start to the year across the group. International is showing strong growth and pushing on well with new store development and the UK has made solid progress on top of two years of exceptional performance.’
