Tesco reported an increase in sales during the Christmas period of 11.5 percent, thanks primarily to a strong performance in non-food categories, including clothing. Same-store sales rose 7.2 percent or 2.9 percent from net new space. UK sales rose 10.1 percent while international sales soared 16.1 percent over the holidays, said the company.
It added that clothing, toys, gifts, home entertainment and electronics sold well. Its Cherokee and Florence & Fred ranges have become especially popular in recent years. The market did not react quite as favourably as hoped, with shares in the British supermarket chain dropping upon release of the figures. According to the FT, the market is used to Tesco beating its forecasts.
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