DIY Week.net
Essential reading for retailers and suppliers in the home improvement market
DIY Week Awards 2012
Check out the winners


News

Published on 15 - June - 2010
 
Tesco sales slow due to rising petrol prices
Tesco has reported a rise in UK overall like-for-like sales of just 0.1% (VAT adjusted, excluding petrol) for the 13 weeks to May 30, due to rising fuel prices and low food inflation.

Tesco sales slow due to rising petrol prices

According to the supermarket's interim management statement, published today, total UK sales including VAT and petrol grew by 6.5%, while overall like-for-like sales including petrol grew by 3.8%. Excluding petrol, like-for-likes were up 1.1%.

Group sales were up by 8.2%, translating to 6.9% excluding petrol.

However, despite an uncertain financial climate, the supermarket chain said it continues to see evidence of a steady consumer recovery, with non-food like-for-like sales growth remaining positive during the first quarter.

Chief executive Terry Leahy, who steps down in March, commented: "Tesco has made a solid start to the new financial year. We're making good progress with our strategy: investing in the shopping trip for customers, driving strong productivity gains, growing space and winning market share. The long-term global recovery is well underway although the pace and strength of economic recovery varies across our markets. We're in good shape and well-positioned to deliver further growth as the economic environment continues to improve."


Comment Leave a comment Email Send to a friend   Print Printable version   Print Link to this story

Make a comment?
Your name
Subject

Inform me of responses to this comment

This Is CAPTCHA Image
Enter number above (anti-spam)



DIYWeek.net does not edit comments which are submitted directly by our users to express their own views. Please report abuse of our comment system here.




© Datateam Business Media Limited 2010. DIY Week.net news articles may be copied or forwarded for individual use only. No other reproduction or distribution is permitted without prior written consent.


Click here to receive the diyweek.net weekly newsletter


Datateam Business Media Limited
15A London Road, Maidstone, Kent ME16 8LY. United Kingdom
T: +44 (0)1622 687031
F: +44 (0)1622 687031

Cookies
We use cookies to make this site as useful as possible. They are small text files we put in your browser to track and assist usage of our site but, with the exception of cookies that help you log in, they don't tell us who you are.
You can control cookies in your browser settings. If you use our site it implies that you consent to our cookie usage. To find out more about how we use cookies and how you can control them, click here to see our cookie policy.