Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Tesco PLC (TSCO)

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Tuesday 15 June, 2010

Tesco PLC

Interim Management Statement

RNS Number : 6148N
Tesco PLC
15 June 2010









Chief Executive, Terry Leahy commented:


"Tesco has made a solid start to the new financial year. We're making good progress with our strategy: investing in the shopping trip for customers; driving strong productivity gains; growing space and winning market share. The long-term global recovery is well underway although the pace and strength of economic recovery varies across our markets. We're in good shape and well-positioned to deliver further growth as the economic environment continues to improve."




Group sales for the thirteen weeks ending 30 May 2010 increased by 8.2% driven by all parts of our strategy. Growth excluding petrol was 6.9%.




The longer-term trends in our international business remain encouraging as the global recovery takes hold. Although a number of short-term factors have impacted certain markets this quarter, the underlying direction of improving performance remains. Total international sales increased by 11.9% at actual exchange rates, excluding petrol (5.3% at constant exchange rates).


The sales performance in Asia was encouraging, with 15.4% growth (4.9% at constant exchange rates). Growth was supported by new store openings across the region, although it was held back temporarily by the effects of political uncertainty in Thailand and Korea, which are now easing.


In Europe, sales excluding petrol grew by 7.3% (4.3% at constant exchange rates). Ireland's impressive sales recovery continued, offset by a late spring in Central Europe, the period of mourning in Poland and the ongoing economic difficulties in Hungary.


International like-for-like sales performance was steady compared with the previous quarter and was broadly flat overall - slightly negative in Asia and slightly positive in Europe.


In the United States, sales were up 37.8% (40.6% at constant exchange rates), with high single digit like-for-like sales driven primarily by increased customer numbers.




The UK business continues to perform well, growing faster than the industry as a whole. Total sales including VAT and petrol grew by 6.5%.


Whilst overall like-for-like sales growth - at 3.8% including petrol - has remained strong in the quarter, higher fuel costs have meant that customers have had to shift some of their spending to petrol at the expense of their normal shopping. This, combined with very low food inflation - resulting from unusually high levels in the same period last year - constrained our ex-petrol like-for-like-sales growth to 1.1%, 0.1% VAT-adjusted.


Although customers in the UK continue to face some uncertainties about their personal finances going forward, we continue to see evidence of a steady consumer recovery. For example, we're continuing to see good growth in our Finest range and non-food like-for-like sales growth remained positive during the quarter; our market share in games, which doubled last year, continues to grow and our sales of televisions are up strongly as a result of our successful World Cup marketing campaign.


Clubcard is going from strength to strength as Double Points helps to increase the level of customers' engagement with Clubcard and appreciation of the great rewards on offer. The number of families redeeming points is more than 20% higher than this time last year and we're seeing an increase in the proportion of points spent on 'rewards' such as our cinema ticket with Cineworld for just £3 worth of vouchers.


Tesco Bank continues to make good progress in the development of its own infrastructure with systems testing underway and recruitment of staff for its new operational centres well advanced. We're growing the number of customer accounts and there is an encouraging trend in the level of bad debts.




Operationally the business is performing in line with expectations and the outlook for the year as a whole remains unchanged.





Investor Relations:

Mark George

01992 644 800

Steve Webb

01992 644 800


Jonathan Church

01992 646 606

Angus Maitland, Maitland

020 7379 5151


This information is provided by RNS
The company news service from the London Stock Exchange

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