Economy

Tesco enjoys its 'biggest' Christmas in the UK

Tesco enjoys its 'biggest' Christmas in the UK

John Lewis reported gross sales up 2.5% for the six weeks to December 30, while its sister company Waitrose booked a comparable sales rise of 1.4%.

Over Christmas, sales of fresh food brands and the Tesco finest range were particularly strong.

The festive sales fall comes after it gave hope last November that its turnaround was gaining traction in the embattled clothing and home division, when second-quarter sales dipped by just 0.1%. However, disruption from the collapse of supplier Palmer & Harvey impacted sales over the period.

"We are confident in the outlook for the full year and are firmly on track to deliver our medium-term ambitions".

All store formats did well over Christmas, Tesco said, with a similar level of growth in large and small stores.

"Despite many predictions that Tesco had "won" Christmas, with that accolade instead being shared by Morrisons and the Co-op, the market leader nonetheless enjoyed a very creditable festive period", he pointed out, as quoted by the newswire. It sold 600,000 turkeys for Christmas, 13% growth year-on-year, with lamb growing 15% and salmon 23%.

More news: Woman accuses NY state senator of sexual misconduct

Regarding consumer sentiment, Tesco said although indications suggest there is caution ahead it believes inflation seen during 2017 is at least abating. There will be some inflation, it believes, although not as much as previous year.

Overall, its third quarter like-for-like sales were 1.4% lower.

Tesco plc (TSCO.L, TSCDY.PK) reported that its Group like-for-like sales grew by 0.6% for the 19 weeks to 6 January 2018.

Tesco has posted a like-for-like sales increase of 2.2% in its United Kingdom and Republic of Ireland operations over the 19-week period incorporating its third quarter and Christmas. The Czech Republic did well, as did Slovakia, with Tesco citing an improvement to its customer offer.

The Group noted that its Asia like-for-like sales were down 11.1% over the 19-week period, with its decision to withdraw from bulk selling activities in Thailand continuing to be the main driver of the decline. Current accounts have now passed 250,000, Tesco said. He noted that these challenges have now largely "been resolved".


  • James Rosen reportedly left Fox News amid sexual harassment allegations

    James Rosen reportedly left Fox News amid sexual harassment allegations

    One incident occurred as far back as the winter of 2001, when Rosen allegedly groped the breasts of a female journalist in a cab. NPR reported that there were three separate instances in which Rosen made "overt physical and sexual overtures" to co-workers.
    Why the Golden Globes Just Renewed My Faith in Hollywood

    Why the Golden Globes Just Renewed My Faith in Hollywood

    The Golden Globe Awards show is produced by Dick Clark Productions, which shares a parent company with The Hollywood Reporter . THE 75th Golden Globes red carpet was all about one colour this year - black.
    Hold the Romaine Lettuce

    Hold the Romaine Lettuce

    But infection with the O157 strain, which produces a shiga toxin, can cause severe abdominal cramps, bloody diarrhea and vomiting. Food and Drug Administration continue to investigate a multistate outbreak of 24 STEC O157:H7 infections in 15 states.
  • Sears raises $100 mln in new funding, sees holiday sales drop

    Sears raises $100 mln in new funding, sees holiday sales drop

    Sears also said it won concessions from lenders that allow it to borrow more money based off of the value of its inventory. The company's distance from 52-week high price is -77.58% and the current price is 3.88% away from 52-week low price.
    Notre Dame will reportedly lose assistant Harry Hiestand to NFL

    Notre Dame will reportedly lose assistant Harry Hiestand to NFL

    The first hire came on their offensive line, as they announced the hiring of Harry Hiestand as their new offensive line coach. In the case of Hiestand, he has been at Notre Dame since the 2012 season, but this was his most heralded year to date.
    Baseball agent fired amid claim he filmed players in shower

    Baseball agent fired amid claim he filmed players in shower

    According to Murray, one player found a camera while using the shower at Wood's home before confronting him and firing him. Last April, Wood's original firm, Arland Sports, was acquired by Career Sports Entertainment .
  • Penn National wins mini-casino bid despite gaming expansion lawsuit

    Penn National wins mini-casino bid despite gaming expansion lawsuit

    On Thursday, July 27 the stock rating was maintained by Stifel Nicolaus with "Buy". (NASDAQ:PENN) rating on Thursday, July 27. Employees Retirement Association Of Colorado stated it has 20,615 shares. 58 are owned by Asset. 67,037 are owned by Gp.
    Cyberpunk 2077 Twitter Gets First Update In Over Four Years

    Cyberpunk 2077 Twitter Gets First Update In Over Four Years

    But since The Witcher 3 released in May 2015, the studio has presumably kicked development of Cyberpunk 2077 into high gear. Cyberpunk 2077 started off as a role-playing game, which is reported to be set in the open sci-fi world of Night City.
    What Recent Ownership Trends Suggest About Rite Aid Corporation (RAD)'s Future Performance

    What Recent Ownership Trends Suggest About Rite Aid Corporation (RAD)'s Future Performance

    Bank & Trust Of Montreal Can holds 0% or 421,607 shares in its portfolio. 727 were reported by Benjamin F Edwards & Inc. Investors sentiment decreased to 0.95 in Q3 2017. 1832 Asset LP accumulated 139,924 shares or 0.03% of the stock.
  • US Could 'Conceivably' Return to Paris Climate Deal

    President Donald Trump said Wednesday that the USA could "conceivably go back in" the Paris climate agreement if a fairer deal was reached, though he gave no concrete sign that any such deal was being discussed at this stage.
    'Black Widow' Movie Reportedly in Development at Marvel Studios

    'Black Widow' Movie Reportedly in Development at Marvel Studios

    Marvel execs have met with Black Widow actress Scarlett Johansson to discuss what they wanted in the script. Black Widow is next set to appear in AVENGERS: INFINITY WAR , which will hit theaters on May 4, 2018 .
    Gov. Sam Brownback to deliver his final State of the State address

    Gov. Sam Brownback to deliver his final State of the State address

    In the next fiscal year, Brownback proposed to boost state spending by $290 million and leave $150 million in June 2019. He suggested every Kansas high school student be offered 15 hours of dual high school-college credit at no cost.