Tesco sales surge ahead
Supermarket leader throws down gauntlet
January 14 2003
Tesco has reported strong Christmas trading as rival operators battle to challenge is position as the leading UK supermarket operator.
With Sainsbury’s having tabled a counterbid for Safeway and Asda said to be about to enter the contest, Tesco has reported that group sales grew by 11 per cent in the seven weeks ending January 4.
The company said growth was driven by all four parts of its business strategy: a continued strong core UK performance, increasing non-food sales, a strong international performance and the success of retailing services.
Total UK sales were up 8 per cent, including a like-for-like increase of 4.8 per cent. International sales were up 24.9 per cent, including sales from 13 HIT stores in Poland acquired during 2002. Tesco now operates 152 international hypermarkets.