Home / Knowledge / News / Apparel/Garments / 'Tesco performs robustly in first quarter' - CEO
'Tesco performs robustly in first quarter' - CEO
12
Jun '12

Tesco releases first quarter interim management statement 2012/13.

Philip Clarke - Chief Executive "Tesco has performed robustly in the first quarter despite subdued consumer confidence in all our markets.

"We are rapidly implementing our six-point UK plan and I'm particularly proud of the relaunch of our Everyday Value range and the fact we have now put extra staff into 700 of our stores - in 500 of them within the last three weeks alone. Our customers are seeing the evidence of the changes we're making and they're telling us they like what they see.

"Internationally, like-for-like sales growth proved resilient, despite slowing economic growth in China and the emerging impact of recently introduced shopping hours legislation in South Korea. Against the backdrop of continuing uncertainty in the Eurozone, it is pleasing to see that our businesses have largely sustained their performance."

Progress on Our Plans to Build a Better Tesco

  • Solid Q1 trading performance and good progress on our strategic priorities
  • Another robust quarter for the international business, with Asia driving sales growth
  • UK performance in line with expectations, and an improvement relative to the market
  • Steady progress with Building a Better Tesco in the UK

Group sales  for the thirteen weeks ending 26 May 2012 increased by 2.2% including petrol (3.8% at constant exchange rates) and by 2.2% excluding petrol (3.9% at constant exchange rates).

UK performance

as expected Our performance in the UK has been steady during a challenging quarter for the industry as a whole. Overall, it was in line with our expectations and, importantly, improved relative to the market. Kantar data shows that market growth declined by 1.3%, from 3.7% in Q4 to 2.4% in Q1. Our total sales growth, over a very similar period, reduced by only 0.3%, from 2.3% to 2.0%.

The industry remained very competitive through the quarter, with a significant amount of couponing activity.

Total sales including VAT and petrol grew by 2.1% and by 2.0% excluding petrol. Our like-for-like sales, excluding both VAT and petrol, reduced by (1.5)% in the quarter.

The improving quality of our own-label range was recognised at the recent Grocer Awards, where Tesco won 28 awards for food and drink products - significantly more than any other retailer.

We are getting on with the detailed implementation of our six-part plan to Build a Better Tesco in the UK. A substantial amount of work has already started in each part of the plan, including:


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search