Tesco – Britain’s number one supermarket chain – has posted a surge in sales in recent months, suggesting its growth has not been severely hit by the economic downturn.
Over the fourteen weeks to November 17, group sales soared 12.2%, with UK sales up 9.2%, boosted by the opening of new shops and the expansion of its non-food retail operations. In stores open before the period began, sales increased 6.4%, though Tesco said this would have been 7.4% were it not for a 1% fall in prices.
Outside the UK, the opening of outlets in new markets contributed to a 34% jump in sales.
News source: BBC Online Business News (UK)