Tesco, the leading UK supermarket operator, is expecting to produce double-digit growth figures for several years.
Speaking to Reuters on the sidelines of a conference in Germany yesterday [Wednesday], Tesco chief executive officer Terry Leahy said that the company’s many-pronged strategy should continue to ensure the kind of performance which resulted in an 11.5% upturn in sales last year.
“This fast organic growth rate can continue into the medium term. It has a number of components to it, all of which are firing well,” Leahy said. He said three or even four percent growth in same-store sales was well within Tesco’s reach, while new sales space would also add to turnover.
Continued expansion outside the UK would also add growth. Tesco is now profitable in eight of its ten international operations.
Diversification into non-food has also been a key driver of Tesco’s recent sales success, and Leahy confirmed this was considered a source of further expansion.
