Tesco sales rise 13.7 per cent
Rate of growth in non-food has eased as consumers have become more cautious with their spending during recent months.
Total sales in the UK rose by 9.4per cent. Including petrol, like-for-like sales increased by 6.4 per cent. Excluding petrol, like-for-like sales for the quarter increased by 3.5 per cent.
International sales increased by 26.6% at actual exchange rates and by 13.9% at constant rates. Sales in Europe grew by 32.4% at actual rates.
Chief Executive, Terry Leahy commented: ‘We’ve made a good start to the financial year thanks to the growing breadth of the Group and the strength of the Tesco business model – this has been achieved despite the more uncertain economic environment. Our International operations continue to grow strongly; we’re pushing on well with new store developments in our established markets and our expansion into new markets, including the United States. We also made solid progress in the UK in the first quarter. Core food categories showed good growth as we helped customers spend less at a time when household budgets are becoming stretched. The business has also coped well with the more cautious mood on non-food spending.’
