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Tesco Goes From Strength to Strength

News, 26 November 2004

UK supermarket giant Tesco's Q3 sales figures show the company's growth continuing to beat market expectations.
For the 14 weeks to November 20 total group sales increased 12.2 percent, with a 12.3 percent rise in total UK sales - up on last quarter's surge of 11.8 percent.

Tesco's recorded a like-for-like sales growth of 9.8 percent - this translates as 7.5 percent not counting petrol sales, which benefited from lucrative price cutting.

A Tesco spokesperson said: "Petrol volumes continued to grow exceptionally strongly during the third quarter, helped by our efforts to keep fuel prices down during a period of rising oil prices."

Non-food category sales were also up as the retailer continues to expand its market share in the run up to Christmas. Photography and kitchen goods were among low-priced electrical items predicted to perform well, a spokesperson said.

Tesco also forecasts strong fourth quarter results due to an additional 1.4 million square feet of selling space.

Data sourced from The Times Online (UK); additional content by WARC staff