tesco reports sales boost despite high uk inflation
Last Updated : GMT 09:07:40
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Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Tesco reports sales boost, despite high UK inflation

Egypt Today, egypt today

Egypt Today, egypt today Tesco reports sales boost, despite high UK inflation

Total sales grew 1.8 percent in the 19 weeks to January 6
London - Egypt Today

Supermarket group Tesco, Britain's biggest retailer, announced Thursday a rise in sales over the key Christmas period, despite high UK inflation weighing on consumer incomes.

Total sales grew 1.8 percent in the 19 weeks to January 6 compared with the corresponding period a year earlier, Tesco said in a statement.

"Whilst inflationary pressures remain in the UK market as a whole, we have continued to work with our supplier partners to help mitigate the impact on our customers," Tesco said.

"As a result, we have passed on less inflation to date than our competitors."

In Britain, wages are being eroded by Brexit-fuelled inflation according to recent data.

Since Britain voted to leave the European Union in June 2016, a drop in sterling -- making imported goods more expensive -- has pushed up inflation to an annual rate of 3.1 percent.

Source:AFP

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tesco reports sales boost despite high uk inflation tesco reports sales boost despite high uk inflation



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