The British supermarket chain Tesco maintains its profit forecast for the full financial year. The retailer reports in its update on the third (fiscal) quarter an increase in sales of 4.3 percent in the UK. In the Christmas period, sales were even 7.2 percent higher.
Tesco is the largest department store chain in the UK with a market share of 27.5 percent. The optimistic quarterly update does not come completely unexpectedly. Competitor Sainsbury’s has already come up with strong figures for the Christmas period.
“I am very pleased with our performance during this period, and especially the continued strong growth at Christmas, on top of the exceptional growth in recent years,” said CEO Ken Murphy.
