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14/06/2002
Tesco reveal three-month sales rise
Leading UK supermarket chain Tesco has revealed an 11% rise in sales in the three months to mid-May.
The company saw its profits shoot up by 14% to over £1 billion in its last financial year and said recent growth had been driven by a mix of strong performance in the UK core operations and increasing sales of non-food items.
Tesco's total UK sales were up 7.4% in the twelve weeks to May 18, while same store sales were up 4.5% on a year ago.
The figures will be welcome news for the supermarket group as it has plans to open over 3.5 million square feet of store space this year.
International expansion plans also mean the firm should have as much space overseas as in the UK by the end of next year.
(MB)
The company saw its profits shoot up by 14% to over £1 billion in its last financial year and said recent growth had been driven by a mix of strong performance in the UK core operations and increasing sales of non-food items.
Tesco's total UK sales were up 7.4% in the twelve weeks to May 18, while same store sales were up 4.5% on a year ago.
The figures will be welcome news for the supermarket group as it has plans to open over 3.5 million square feet of store space this year.
International expansion plans also mean the firm should have as much space overseas as in the UK by the end of next year.
(MB)
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