British supermarket giant Tesco have today announced a 12.7% rise in Q3 sales this year, driven by a strong performance in the core UK outlets and the chain’s increasing focus on non-food items.
In its recent trading statement, the group explained that like-for-like sales in the same period rose by 5.1% and “we continue to see deflation in the core chain, driven by significant price reductions.” International sales grew 49% during Q3, accelerated by trading in central Europe and Asia, where 29 new hypermarkets were opened this year.
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Tesco admits it is confident of continued success upon entering Q4, but is being realistic, appreciating that “last year saw a particularly strong Christmas period boosted by Millennium celebrations.”
