Tesco sales up 14% in first quarter

Tesco has reported a 13.7% increase in group sales for the 13 weeks ending May 24 driven by higher fuel prices. It has also revealed that total sales in the UK grew by 9.4% over the period.

In the UK, excluding petrol and new store openings, sales in the first quarter were up 3.5% but rising fuel prices, which have gone up by about 20% in the past year, boosted group sales.

The supermarket chain says that although food sales have been good, its rate of growth in non-food has slowed reflecting the general consumer trend on the High Street.

It cut prices on more than 12,500 products during the first quarter in an attempt to woo customers, after consumer confidence, hit by a stalling housing market and record oil prices, fell to its lowest level for four years last month. Tesco reported a 12% increase in annual profits in its previous financial year.

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here