Tesco Sales Rise 6.2% During Holidays
LONDON - Tesco, the UK's largest supermarket operator, today reported that its like-for-like sales rose by 6.2 percent for the seven weeks ending Jan. 5, The Financial Times reports.
The figures compare with a rise in like-for-likes (including petrol) last year of 6.9 percent over the seven-week Christmas period.
Tesco said deflation had increased in its core business as it continued to cut prices.
Total sales, excluding petrol, were up by 9 percent over Christmas, while the figures including petrol were ahead by 7.2 percent. International sales were up 31.2 percent over the Christmas and New Year period.
Tesco now has 102 international hypermarkets. It is on track to have more space overseas than in the UK by the end of 2003, according to The Financial Times.
The figures compare with a rise in like-for-likes (including petrol) last year of 6.9 percent over the seven-week Christmas period.
Tesco said deflation had increased in its core business as it continued to cut prices.
Total sales, excluding petrol, were up by 9 percent over Christmas, while the figures including petrol were ahead by 7.2 percent. International sales were up 31.2 percent over the Christmas and New Year period.
Tesco now has 102 international hypermarkets. It is on track to have more space overseas than in the UK by the end of 2003, according to The Financial Times.