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'Solid' Christmas sales at Tesco 'Solid' Christmas sales at Tesco
(20 minutes later)
Tesco says it saw "solid" UK sales over the Christmas trading period, with trade in non-food items such as clothing performing well.Tesco says it saw "solid" UK sales over the Christmas trading period, with trade in non-food items such as clothing performing well.
The supermarket saw UK like-for-like sales excluding petrol, which strip out the effect of new stores, rise 3.1% in the six weeks to 5 January.The supermarket saw UK like-for-like sales excluding petrol, which strip out the effect of new stores, rise 3.1% in the six weeks to 5 January.
While better than some other retailers over the Christmas period, the sales figures missed analysts' expectations.While better than some other retailers over the Christmas period, the sales figures missed analysts' expectations.
Tesco said clothing, entertainment items and books sold well. Total international sales rose 26.9%, with strong growth in Europe and Asia.
International growth Tesco said its online businesses had a "very successful" Christmas, with total sales up 24%, helped by strong demand for MP3 players, digital cameras and laptops.
Analysts had been expecting Tesco to report a 4% rise in like-for-like sales. Spending worries
Analysts had been expecting Tesco to report a 4% rise in like-for-like UK sales.
Overall we're thrilled to bits, particularly given how some of the other retailers' results have come out Andrew Higginson, Tesco
Rival Sainsbury's saw its like-for-like sales excluding fuel rise 3.7% in the 12 weeks to 29 December.Rival Sainsbury's saw its like-for-like sales excluding fuel rise 3.7% in the 12 weeks to 29 December.
Some other High Street retailers have reported poor festive trading, raising fears of an economic downturn. Some other UK retailers have reported poor festive trading, raising fears of an economic downturn as consumers rein in their spending.
Tesco said overall group sales rose 12.8% in the six week period, with international sales increasing by 26.9%. However, Tesco finance director Andrew Higginson said the firm was very pleased with how Christmas trading had gone.
It said its newly launched Fresh & Easy stores in the United States had received a "very encouraging" response from customers. "It was a great Christmas for customers, we did a terrific job in the stores in terms of availability, and you know, it was a profitable Christmas for us," Mr Higginson told the BBC.
Tesco's online business saw a 24% rise in sales over the festive period. "Overall we're thrilled to bits, particularly given how some of the other retailers' results have come out."
International growth
Tesco said overall group sales rose 12.8% in the six-week period, with international sales increasing by 26.9%.
In central Europe, sales grew by nearly 30%. Tesco said it enjoyed "exceptionally good progress" in some of its newer markets, with sales in Turkey up by more than 80% and in Malaysia up by more than 60%.
Its newly-launched Fresh & Easy stores in the United States had received a "very encouraging" response from customers, Tesco said.
The retailer now has 28 stores operating in Southern California, Las Vegas and Phoenix.