Tesco group sales for the seven weeks ending 5 January 2002 increased by 11%, leaving the company on track to achieve year end targets.
This growth, said the company, was driven by all four parts of Tesco’s strategy: a continued strong core UK performance, increasing non-food sales, strong performance across its international business and the success of retailing services.
In the UK, total sales (ex petrol) for the seven weeks ending 5 January were up 9%, including like for like of 6.2%. Strong volumes of 6.7% were meanwhile attributed to Tesco’s “determination to deliver the best value” for consumers. Deflation has increased in the core business with the continuing focus on price cuts.
Including petrol, total UK sales were up 7.2%, including 4.6% like for like. This was driven by strong volumes of 6.3%, following volume growth last year of 7.3%.
International sales were up 31.2% for Tesco over the Christmas and New Year period, in line with the company’s plans. Tesco currently controls 102 international hypermarkets, amounting to 10m ft² of sales space.