Tesco sales grow 6.9%

Tesco reported a 6.9 per cent jump in like-for-like sales over Christmas and the new year in its British stores - beating analysts…

Tesco reported a 6.9 per cent jump in like-for-like sales over Christmas and the new year in its British stores - beating analysts' expectations of around 5 per cent.

The group said that for the seven weeks to January 6th, total sales in the UK were up 10.5 per cent, while like-for-like sales, which strip out the effect of new store openings, were ahead 6.9 per cent.

Tesco in Ireland does not make quarterly statements as it is not a quoted company here. However, the group opened a revamped store in Maynooth, Co Kildare, in November and is opening a store in Castlebar, Co Mayo, in mid-February. It is understood the kind of increase in sales reported in Britain would have been reflected in the Irish group.