UK: Tesco reports unexpected upturn in sales
Leading UK supermarket operator Tesco cheered the stock market today [Tuesday] by reporting unexpectedly robust sales growth progress in its domestic market.
The group said underlying sales growth in the UK had improved by 3.8% in the third quarter, up from 3.4% in the previous quarter. This outstripped more modest expectations of 3.5-4% growth.
Impressive growth overseas, where Tesco has been ramping up its operations over the last five years, further lifted overall group sales growth to 10.5%. Tesco operates in ten foreign markets.
All retail market eyes are firmly trained on the big supermarkets as they gear up for the critical Christmas trading season. Sainsbury has been extending its non-food range in a bid to bag a greater share of the Christmas present spend, while Safeway recently trimmed prices to boost its appeal, reported Reuters.
Any move from Asda will be an important catalyst in the race to land Somerfield. The Wal-Mart owned group could well see its acquisition target as an important route into the ever-expanding convenienc...
Supermarket chain Tesco has announced a new food labelling system, with 'nutritional signposts,' which it says will make it easier for shoppers to make healthier choices....
Supermarket Safeway is today (Wednesday) opening a new $175m distribution centre in Auburn, Washington, the culmination of a 2 1/2 year project which it says solidifies its position in the north west....
Locally owned food retailer CBA is Hungary's biggest supermarket, according to the Budapest Business Journal, which cited statistics compiled by AC Nielsen for trade journal Mai Piac....
Not content with pocketing one in every three pounds spent on groceries in the UK, the supermarket giant Tesco has now become the first British retailer to smash the £2 bn ($3.78bn) profit barrier. Ho...
Tesco, the UK's biggest supermarket chain, has today (Tuesday) reported a 20.5% rise in pre-tax profits to £2.029bn (US$3.84bn) for the 52 weeks ended 26 February 2005....
UK supermarket giant Tesco is planning to open a further 40 stores in central Europe, according to the Financial Times Newspaper....
UK Supermarkets import a much higher proportion of organic pork than is the case with conventional supplies, according to organic food lobby group the Soil Association....
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