GROUP SALES GROWTH CONTINUING TO ACCELERATE
Group sales for the seven weeks ending 6 January 2001 increased by 15.4%. This growth was driven by excellent performances from all four elements of our strategy: a strong core UK, increasing non-food sales, rapidly developing international stores and our expansion into retailing services.
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OUTSTANDING UK GROWTH UP 10.5%
Total UK sales for this seven weeks, covering Christmas and the New Year, were up 10.5%. Compared to last year this period included one extra day’s trading over the New Year. Like-for-like sales were up 6.9% driven by excellent sales volumes of 7.3%. This performance reflects our determination to deliver the best offer for customers as we continue to cut prices. Overall deflation was -0.4%. We expect to see further investment in price cuts for customers in the coming months.
STRONG INTERNATIONAL PERFORMANCE
In 2000 we opened 32 stores internationally adding over 3m sq. ft. of new trading space. This represents an increase in International trading space of over 45% on the previous year. International sales were up 50% over the Christmas and New Year period as a result of our existing stores maturing and our new store openings.
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By GlobalDataRECORD NON FOOD PERFORMANCE
Our strategy of offering excellent value in non-food to customers was a resounding success this Christmas. We saw record sales in all areas including 14,000 DVD players and 8,000 widescreen televisions.
TESCO.COM SALES QUADRUPLE
The roll-out of Tesco.com to cover 90% of the UK population helped drive the performance over Christmas with sales up 400% on last year. To meet this demand Tesco.com recruited 400 new staff, allocated 10,000 additional delivery slots and delivered 30m products.
The next trading update will be at our Final Results presentation scheduled for 10 April 2001.
