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Britain's Tesco rings up bumper Christmas sales
2007-01-16
British supermarket group Tesco, the country's biggest retailer, has said that sales surged by almost 10 percent over the Christmas-New Year period. "Tesco has delivered strong growth and record sales over the Christmas and New Year period," the group said a trading statement Tuesday. Total group sales, including petrol, soared by 9.5 percent in the six weeks to January 6, 2007, compared with the same period the previous year. Excluding petrol, like-for-like sales -- which strips out the effect of new floor space -- increased by 5.9 percent over the same period. That was in line with market expectations which ranged between 5.4-6.5 percent but ahead of the consensus forecast of 5.5 percent. Tesco said it had enjoyed record sales across many non-food categories including toys and games, electronics and clothing. The group's overseas division also experienced a strong festive trading period, with international sales growing by 15.8 percent. "The entire Tesco team worked hard to deliver an even better Christmas for customers than last year," added Tesco, which is the world's third-biggest retailer behind Carrefour of France and US giant Wal-Mart.
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