skip to main content
Find Insight DIY on
* * *

UK DIY News

Non-food growth eases at Tesco

Tesco chief executive Terry Leahy said the business has coped well with the "more cautious mood" on non-food spending in the thirteen weeks to 24th May. Group sales over the period were up 13.7%, with non-food seeing "strong market share gains", Tesco said in a trading statement this morning.

Total UK sales were up 9.4%, with like-for-like sales excluding petrol up 3.5%. Tesco said that although its food category performance "has been good", its rate of growth in non-food has eased "as consumers have become more cautious with their spending during recent months". But it added: "Our strong competitive position has meant that our non-food growth has remained significantly stronger than the wider market."

Leahy said: "We've made a good start to the financial year thanks to the growing breadth of the group and the strength of the Tesco business model - this has been achieved despite the more uncertain economic environment... Core food categories showed good growth as we helped customers spend less at a time when household budgets are becoming stretched. The business has also coped well with the more cautious mood on non-food spending."

Source : The Bookseller.com

21 March 2011
view more UK DIY News
*

I find the news and articles they publish really useful and enjoy reading their views and commentary on the industry. It's the only source of quality, reliable information on our major customers and it's used regularly by myself and my team.

*
Simon Fleet - Sales & Marketing Director, Thomas Dudley Ltd
Newsletters

Don't miss out on all the latest, breaking news from the DIY industry