Food Retailing / Supermarkets

Tesco Posts Good 1Q

Strong performances in the U.K. and Asia

Published

15 years ago

June 17, 2009

VMSD Staff

Tesco PLC (London) posted a 13 percent increase in sales for the fiscal first quarter ended May 30. The world’s third largest retailer says sales in Asia, where it operates more than 1000 stores, rose 44 percent, while in the U.K., same-store sales grew 4.3 percent.

The company's U.S. unit, Fresh & Easy, reported sales doubled during the quarter. The company has continued to open new stores, growing to 120 locations since it hit the states in 2008, while continuing to tweak its offering to meet customers’ needs.

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