UK: Tesco names Bush UK MD as underlying sales climb
- UK like-for-like sales up 1.8%
- Chris Bush announced UK MD
- Total UK sales grow 4.2%
- Group sales up 3.8%
Tesco's UK like-for-like sales grew by 1.8%
UK retailer Tesco reported an increase in underlying UK sales today (10 January) as it named Chris Bush as head of its domestic operations.
UK like-for-like sales, excluding both VAT and petrol, grew by 1.8% in the six weeks to 5 January. The increase was driven by a "much stronger" food performance than last year and a "further improvement" from the third quarter.
"Most of our efforts to date under our six-part plan to Build a Better Tesco in the UK have focused on food - and particularly fresh food - so this performance provides further encouragement that the delivery of the plan is on track," the retailer said.
Total UK sales grew by 4.2% including petrol and 4.3% excluding petrol. Chris Bush was also confirmed as the retailer's new UK managing director.
Internationally, European sales declined by 0.6%, while in Asia, Tesco pointed to an improvement in like-for-like sales growth and total sales growth of 7.6%.
In the US, total sales for Fresh & Easy were up by 4.1%. The retailer said it will update on its strategic review of the unit at its preliminary results in April.
Group sales in the period increased by 3.8% including petrol and 3.9% excluding petrol.
UK cooked and frozen meat products manufacturer Snowbird Foods is to be sold in a management buy-out....
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