Tesco increases its sales

Despite the difficult economic environment in the UK and disruption caused by floods in Thailand, the supermarket chain Tesco has announced a growth in sales for the third quarter.

Tesco's sales rose 7.2% with fuel and 5.4% excluding fuel and at constant exchange rates). UK sales fell by 0.9% when excluding gasoline sales but online sales through Tesco Direct increased by about 10%.

International sales increased 8.2% with growth of 9.7% in Asia despite the interruption due to flooding in Thailand. In Europe the increase was 5.8% and 29.2% in the United States.

The Tesco management believes that these results are correct for a quarter in which the economy was difficult on many of its markets.

source : stock market wire, rtt news