Non-food growth slows down as ‘consumers become more cautious’, but overall Group sales still rocket
Tesco has reported a bigger-than-forecast slowdown in sales in its core UK business for its first quarter – particularly in non-food categories.
Like-for-like sales in the 13 weeks to May 24th rose by 3.5 per cent excluding petrol and new store openings – winding down from the growth of over four per cent filed at Tesco’s full-year results in April.
The retail giant said that its rate of growth in non-food in the UK, which accounted for more than a fifth of last year’s revenues, “has eased as consumers have become more cautious about their spending in recent months”.
However, total group sales rose by 13.7 per cent, helped by favourable exchange rates overseas, with the supermarket drawing nearly two-fifths of its revenues from outside the UK.
In the UK, total sales including petrol rose by 9.4 per cent, assisted by the surging price of oil in recent weeks, or by 6.4 per cent on a like-for-like basis.
International sales rose by 26.6 per cent, with the strongest performance coming from continental Europe, up 32.4 per cent to 392.2p.
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Comments
huh?
Not being funny, but what exactly does this have to do with computer games?!
Re: huh?
Hello there,
It's really for our retail audience – Tesco's non-food (i.e. games, technology and more) sales have slowed in Q1. Hope that clears it up.
If we had more specific details on just games/hardware, we'd share them, but we don't at this stage.
Cheers,
Tim
Re: Re: huh?
The stories on here just go from pointless to .....
But it was really interesting to find out that tescos total sales including petrol has risen by 9.4%
Whats tomorrows story? La Senza? Burtons?
Re: Re: Re: huh?
oh what a shame...i mean how will tesco survive!
Do we really care, us independents are finding it hard enough how it is but your determined to talk about tesco. they affect our trading because they are so cheap!
Re: Re: Re: Re: huh?
@ All three (with the exception of Tim, of course)
With attitudes like that, no wonder you're all going out of business and struggling. If you don't know – nee care – about your competitor's current performance, then you'll always remain a small crappy looking store down a backstreet no-one goes down.
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