Tesco’s sales rise in Q3

James Batchelor
Tesco’s sales rise in Q3

Tesco has announced its third quarter results for 2010, reporting a rise in Group sales of 8.8 per cent.

The supermarket giant attributed this growth to the improving global economy, with its total international sales increasing by 15.7 per cent.

Non-food sales also increased when compared with the second quarter, driven largely by a strong performance from Tesco Direct, which grew sales by 30 per cent. Kinect for Xbox 360 was highlighted as one of the firm’s key products for Christmas, along with the iPad and Coronation Street 50th Anniversary album.

“We’ve made good progress in the third quarter with growth from across the Group,” said chief executive Terry Leahy.

“Our continued investment in the shopping trip and our new space opening programme across our markets are giving us good sales momentum and market share gains.

“As the global economic recovery gathers pace, our broad-based strategy – combined with our ongoing focus on productivity savings – is enabling us to maintain growth in a sustainable, profitable way – delivering value for customers and for shareholders.”

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Tags: Retail , tesco , financials , supermarket

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