Boost in sales for Tesco

"Back on form", according to CEO.

By New Statesman Published 10 January 2013
Tesco sales rose 1.8 per cent year on year. Photograph: Getty Images.
Tesco sales rose 1.8 per cent year on year. Photograph: Getty Images.
 
Tesco sales rose 1.8 per cent year on year in the six weeks to January  after it changed its trading habits.
 
The changes included increased staffing and differences in Tesco's clothing range, as well as more money-off promotions, according to CEO Philip Clarke.
 
Here's the FT report:

The Christmas trading figures were much better than Tesco’s dire performance over the same six-week period a year earlier, when it posted a like-for-like sales decline of 2.3 per cent in the UK.

That setback prompted the group’s first profit warning in two decades and a subsequent commitment to invest £1bn in turning around the UK business.

“In the UK I think we were back on form,” said Philip Clarke, chief executive, on Thursday. However, he added: “We need to keep our feet on the ground. It was only a six-week period.”

 

 
 

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