Tesco sales growth accelerates
UK total sales growing by 7.6 per cent.
Sales were up by 11.8 per cent on the 2006 period, up from 9.2 per cent. International sales were up by 25.7 per cent at actual exchange rates and by 21.4 per cent at constant rates, with good performances from Asia, where sales were 29 per cent higher than last year at constant rates.
The UK business saw sales growth of 7.6 per cent, with like-for-like sales, including petrol, up by 4.8 per cent, or up by 4.1 per cent excluding petrol sales. Net new stores, excluding petrol, contributed 3.0 per cent (2.8 per cent including petrol). The company said inflation accounted for 0.8 per cent of this growth, much the same as in the first half. Chief Executive, Terry Leahy commented ‘We’ve maintained pleasing progress during the third quarter across the group. Overall sales growth has strengthened in the period, with International delivering a particularly strong performance, and the UK has again done well, with good growth in our core food categories. Our first Fresh & Easy stores in
the United States have been very well-received by customers.’
