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June 15, 2010    

Tesco sales boosted by US operation

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by Kay Murchie

Supermarket giant Tesco has today reported a 6.9% increase in total group-wide sales, (excluding petrol).

Tesco, which is the UK’s largest retailer, said the global economic recovery was “well underway” and said it was seeing proof of a rise in consumer spending.

Boosted by new store openings, sales growth for the three months to the end of May was in the US, where sales grew 37.8%.

The supermarket group’s sales across Asia grew 15.4%, while mainland Europe saw an increase of 7.3%.

Furthermore, the retailing giant said it noted a rise in sales of its premium Finest range of products and growth in like-for-like non-food sales, boosted by games and televisions.

The figures come just a week after the company’s chief executive, Sir Terry Leahy, announced he will be stepping down in March 2011 after 14 years in the role.

Commenting on today’s figures, Sir Terry said: “We’re in good shape and well-positioned to deliver further growth as the economic environment continues to improve.”

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