14th Jan 2016 07:18
LONDON (Alliance News) - Tesco PLC on Thursday said group like-for-like sales in the third quarter of its financial year fell, but they rose over the key Christmas period to January 9, leaving the supermarket chain on track for full-year profit.
The UK's largest retailer said group like-for-like sales in the 13 weeks ended November 28 fell 0.5% year-on-year as a 1.5% decline in the UK offset 2.9% growth internationally.
However, over the Christmas period in the six weeks to January 9, group like-for-likes rose 2.1%, with 1.3% growth in the UK and 4.1% growth internationally.
Together, covering the 19 week period to January 9, group like-for-like sales increased 0.4%, which Tesco said was its first reported increase in over four years.
"There is plenty more to do, but we are making good progress and are trading in line with profit expectations for the full year," Chief Executive Dave Lewis said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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