The UK’s biggest retailer Tesco has posted another strong set of numbers for the 13 weeks ending May 30th 2009 that show both domestic and international growth.
Like-for-like UK sales for the period were up 4.3 per cent excluding petrol, with total growth reaching 9.3 per cent. Tesco’s non-food business saw “modest growth” with categories including electricals and toys seeing improved performances.
International sales increased by 11.4 per cent at constant exchange rates, with European sales managing to climb 1.9 per cent despite the tough economic climate in the Euro sector. Asian growth hit a staggering 43.8 per cent, whilst US sales went one better, jumping by 174 per cent.
Total Group sales for the period excluding petrol were up by 12.6 per cent.
“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,” chief executive Terry Leahy stated.
“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.”