Monday, 20 December 2010

Tesco reports strong sales as consumer confidence continues to grow.

With Christmas approaching, Tesco revealed like-for-like UK sales have risen 1.5% in the three months to 27 November.

Chief executive, Terry Leahy said of the increase: “It’s not party time, but people are recovering in confidence.”

Total sales across the group’s 5,000 stores rose by 8.8 per cent. Tesco’s Finest line also saw a boost as sales increased by more than 10 per cent compared with two years ago in the run up to Christmas.

With 30.7% of the market share, Tesco finance director Laurie McIlwee said: “The build up to Christmas is going well. We have given Finest an extra push and we are seeing consumers trading up. Non-food is also going well which is a good sign of consumers’ confidence.”

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