In the 12 weeks to May 21, the retailer grew its international sales by 27 per cent on actual exchange rates, with like-for-like sales up 5 per cent, partly because of the retailer's commitment to price investment in its Central European divisions.
The retailer also grew its UK business, with like-for-like sales growth of 8.8 per cent, driven by strong sales volumes and little price deflation over the period. Excluding petrol, like-for-like sales increased by 6.8 per cent.
Tesco chief executive Terry Leahy said: 'Our strong sales performance has put us in a good position to meet the demands of higher oil-related costs across the group, rising business rates in the UK, the initial cost of our price investment in Central Europe and a tougher market for Tesco Personal Finance.'
No comments yet