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Tesco like-for-like sales up but not as much as rivals

Published: 13 January 2009
Tesco has results for the Christmas period show the supermarket chain is making profits - but not as much as its rivals.
Tesco like-for-like sales up but not as much as rivals
In the UK, like-for-like (lfl) sales excluding petrol increased by 2.5% % during the seven weeks to 10 January 2009.

However, Tesco said they report lfl sales inclusive of VAT - and adjusting for the reduction in VAT rates, which came into effect in early December, growth on a comparable basis was 3.5%.

But, the announcement comes a week after Sainsbury's revealed results for the 13 weeks to January 3 showing total lfl sales excluding fuel at 4.5%.

Tesco was tighter lipped about its non-food performance saying it 'strengthened a little' compared to the third quarter, these were driven by 'good market share gains' across most categories, including electrical, clothing and entertainment.

Overall the Tesco Group delivered a solid performance and what the firm claimed were 'record' sales over the Christmas and New Year period, leading to overall group sales increase of 11.6%.

A spokesman for Tesco said: "The stronger growth in volumes and customer numbers we saw in our third quarter has continued.

"The Tesco team delivered an even better shopping trip for customers than last year and another profitable seasonal period for the business - by providing very good standards of service and availability."

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