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Wednesday 8th February 2012

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You are here: Home | City and Corporate | 'Solid' first quarter for Tesco

'Solid' first quarter for Tesco

Tesco chief executive Sir Terry Leahy has said the retailer made a 'solid' start to the new year, as he unveiled its first quarter trading statement.

UK like-for-like sales for the 13 weeks ending 30 May increased by 4.3 per cent, excluding fuel and V

AT, while international sales increased by 20.1 per cent at actual exchange rates. Customer numbers in the US increased while a growth rate of 43.8 per cent was achieved in Asia. Group sales for the period were up by 12.6 per cent, excluding petrol.

“We've made a solid start to the financial year, maintaining good momentum in a challenging economic climate - by investing in our offer for customers and adjusting our businesses well locally to meet their changing needs. We are also keeping a strong focus through the downturn on our long-term strategic objectives and I am encouraged by the impetus last year's acquisitions - of Tesco Personal Finance and Homever in Korea - are now giving the Group,” says Leahy.

Tagged as: Tesco | Sir Terry Leahy

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