• ABOUT
    • Gama
    • Our Network
    • Media
  • PRODUCTS & SERVICES
    • Gama Compass
    • Innovation & Insight Reports
    • Gama Field Services
    • Gama Market Entry
  • CATEGORIES
    • Food
    • Alcoholic Drinks
    • Non-Alcoholic Drinks
    • Household Care
    • Health & Beauty
    • Pet Care
    • Tobacco
  • STORE
  • NEWS & INSIGHTS
    • Global News
    • Insights
    • Magazine
  • EVENTS
  • CONTACT
Latest Tweets
  • Loading tweets...

Follow @@GamaConsumer

  • ABOUT
    • Gama
    • Our Network
    • Media
  • PRODUCTS & SERVICES
    • Gama Compass
    • Innovation & Insight Reports
    • Gama Field Services
    • Gama Market Entry
  • CATEGORIES
    • Food
    • Alcoholic Drinks
    • Non-Alcoholic Drinks
    • Household Care
    • Health & Beauty
    • Pet Care
    • Tobacco
  • STORE
  • NEWS & INSIGHTS
    • Global News
    • Insights
    • Magazine
  • EVENTS
  • CONTACT
1 MIN READ

UK: Tesco sales drop further

December 11, 2013
-
Europe

Supermarket chain Tesco has announced that it sustained a drop in comparable sales across its global business in Q3.

The leading UK retailer’s like-for-like sales dropped by 1.5%, although group sales rose by 0.6% in the period leading up to 23 November. In addition, total UK sales were up by 0.9% according to Just Food.

Tesco’s major challenge lies in its overseas markets.  Like-for-like sales fell 5.1% in Asia, while sales declined in Europe (excluding UK) by 1% at actual exchange rates and by 2.9% excluding currency fluctuations. Like-for-like sales declined by 4%.

Attributing the sales decline to lack of consumer spending power, Tesco CEO Philip Clarke commented:   “Continuing pressures on UK household finances have made the grocery market more challenging for everyone since the summer and our third quarter performance reflects this”.

The company, however, insisted that a UK turnaround plan, involving a re-launch of its premium own brand “Finest” range, store refurbishments and multi channel focus, remained on-track.

Source: Just Food

Tags
Tesco
← PREVIOUS POST
Far East: E-commerce continues to grow
NEXT POST →
USA: L’ Oreal appoints global CMO

Copyright © 2020. Gama. All rights reserved.      Privacy Policy | Legal Notice

 
UK: Tesco sales drop further - Gama