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| 'Solid' Christmas sales at Tesco | 'Solid' Christmas sales at Tesco |
| (about 2 hours 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. |
| Total international sales rose 26.9%, with strong growth in Europe and Asia. | Total international sales rose 26.9%, with strong growth in Europe and Asia. |
| 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. | 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. |
| Spending worries | Spending worries |
| Analysts had been expecting Tesco to report a 4% rise in like-for-like UK sales, and the slightly weaker-than-expected outcome pushed the retailer's shares down 10p, or 2.4%, to 410p during morning trade. | |
| Overall we're thrilled to bits, particularly given how some of the other retailers' results have come out Andrew Higginson, Tesco class="" href="http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/shares/3/23225/intraday.stm">See Tesco's share price | |
| Last week, rival Sainsbury's reported a 3.7% rise in like-for-like sales, excluding fuel, for the 12 weeks to 29 December. | |
| Some other UK retailers have reported poor festive trading, raising fears of an economic downturn as consumers rein in their spending. | Some other UK retailers have reported poor festive trading, raising fears of an economic downturn as consumers rein in their spending. |
| However, Tesco finance director Andrew Higginson said the firm was very pleased with how Christmas trading had gone. | However, Tesco finance director Andrew Higginson said the firm was very pleased with how Christmas trading had gone. |
| "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. | "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. |
| "Overall we're thrilled to bits, particularly given how some of the other retailers' results have come out." | "Overall we're thrilled to bits, particularly given how some of the other retailers' results have come out." |
| International growth | International growth |
| Tesco said overall group sales rose 12.8% in the six-week period, with international sales increasing by 26.9%. | 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%. | 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. | 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. | The retailer now has 28 stores operating in Southern California, Las Vegas and Phoenix. |