Tesco has reported in its third-quarter (Q3) interim management statement that group sales for the 13-week period ended 28 November 2009 climbed by 8.8 per cent excluding petrol, with growth recorded both domestically and internationally.
Steady results were achieved in the UK, with like-for-like sales up 2.8 per cent compared with the same period of 2008, driven by good volumes growth. Net new stores contributed 2.9 per cent, bringing total sales growth excluding petrol to 5.7 per cent.
Internationally, sales increased by 12 per cent at actual exchange rates, with growth particularly strong in Asia, where sales jumped 18.9 per cent. In Europe, sales climbed 5.7 per cent, while sales were up 37.4 per cent in the US following range enhancement and the subsequent marketing launch of Fresh & Easy in September.
'We've continued to make good progress this quarter with contributions to growth from across the business,' said group CEO Terry Leahy. 'We are seeing improving customer confidence and encouraging trends in both the UK and our international business, although recessionary conditions still exist in a number of markets.'
Operationally, the business is performing in line with expectations and the outlook for the year as a whole remains unchanged, the group revealed.
'As ever, with Christmas approaching, we're doing even more for customers with low prices, great promotions including our Finest range, and of course double Clubcard points,' Mr Leahy said. 'Our investment in growth – in new space and from the two acquisitions last year – is providing us with good momentum and a strong platform for the future.'
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