British supermarket chain Tesco has failed to match its rivals' sales growth over Christmas in the UK.
Tesco reported 4.6 per cent growth in its UK shops, including petrol sales. It said both petrol and food prices had fallen. International sales, in which Tesco’s 76 outlets in the State are included rose by 31.2 per cent. Tesco Ireland employs more than 10,000 people.
Excluding the impact of fuel, like-for-like sales growth was 6.2 per cent for the seven weeks ended January 5th. That was weaker than both second-placed J Sainsbury, which reported 6.8 per cent growth, and northern-based Morrison Supermarkets, with 7.2 per cent growth.
Analysts, who are used to Tesco outperforming its peers, were slightly disappointed. They said shares in Tesco, which closed at 237 pence on yesterday, looked vulnerable to a weaker opening today.
Group sales increased by 11 per cent over the Christmas and New Year period. International sales rose 31.2 per cent over the same period, much as expected.