Online sales buoy modest sales growth at Tesco
Internet purchases supported a moderate rise in sales at Tesco, according to the FTSE-100 supermarket chain's latest trading statement published on Thursday morning.
Internet purchases supported a moderate rise in sales at Tesco, according to the FTSE-100 supermarket chain's latest trading statement published on Thursday morning.
Group sales in the six weeks to January 5th increased by 3.8% including petrol while the international business performed at a similar level to the third quarter.
In the UK, like-for-like sales edged up by 1.8%, propelled by stronger food performance than experienced in the previous year and a further improvement from the third quarter.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Increasing online performance drove part of the rise in overall sales, with Tesco Direct purchases up by more than 16%.
Internet-purchased food sales increased by 18% over the five week Christmas and New Year period. This was underpinned by more than 500,000 food orders being fulfilled in the week before Christmas, with almost 5% of online goods picked up by customers using Tesco's drive-through "Click & Collect" service.
The group's international business performed at a similar level to that seen in the third quarter. Asia delivered an increase in total sales of 7.6%, with a slightly better like-for-like sales growth rate than the third quarter reflecting stronger performance in Thailand.
Following a period of nine months during which Philip Clarke temporarily led the group, the supermarket chain announced that Chris Bush had been appointed managing director.
MF
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Wallester Business: Simplify financial workflows with unlimited corporate cards
Make messy expense reports and card sharing chaos a distant memory with Wallester Business, an all-in-one corporate card and expense management platform
-
How to sell a property that floods – ways to avoid a 31% hit to your asking price
Flood risks can knock up to a third off the value of your home when you come to sell but there are ways to soften to blow