Tesco enjoys record Christmas

The company enjoyed a like-for-like sales increase of 5.7 per cent, though this rises to 7.2 per cent if petrol is included. If net new space is added, then the overall company growth is an impressive 10.1 per cent.

The firm’s 117 Extra stores performed exceptionally well, with high growth in non-foods, home entertainment, electronics, clothing, toys and gifts lines.

Tesco.com also had another record year, delivering over one million orders in the four weeks running up to Christmas, whilst Tesco Mobile signed up its millionth customer during December.

The strong results are attributed by analysts to the low prices Tesco was able to offer on popular consumer electronic lines such as TVs and MP3 players, with growth in these sectors estimated to be around double that seen in food, while aggressive pricing of video games has seen the firm continue to grow in that sector.

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