Yahoo Finance Tesco Sees Sales Up 1.8% Over Festive Period
Supermarket giant Tesco (Other OTC: TSCDY - news) has seen UK like-for-like sales in the six weeks to January 5 rise by 1.8%.
It was the strongest rate of growth for Britain's biggest supermarket chain in three years.
Online food sales saw growth of 18% in the period, with more than 500,000 food orders placed in the week before Christmas.
Chief executive Philip Clarke said: "I am pleased with our performance over the important Christmas and New Year period in the UK, which reflects the progress we are making in improving our offer for customers."
The festive period has been exceedingly competitive for Britain's supermarket chain, and while discounter Aldi reported sales up 30% in the run-up to Christmas, Morrisons declined by 2.5%.
Morrisons weakness over the period was partially blamed on a lack of convenience stores but especially on a lack of online options.
Tesco also confirmed that Chris Bush was being appointed as UK managing director.
Mr Bush has been an employee of the firm for more than 30 years.
Mr Clarke has temporarily led both the whole Tesco group and UK business for nine months.
Marks and Spencer (LSE: MKS.L - news) was due to release its trading figures on Thursday however it took the decision to release them on Wednesday evening after they were leaked to Sky News City Editor Mark Kleinman.
:: Tesco shares were up around 2% in late trading on Thursday.
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