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'Solid' first quarter for Tesco
Archived article dated Tuesday June 16th 2009
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 VAT, 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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