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.

 Information  X 
Enter a valid email address

Tesco PLC (TSCO)

  Print      Mail a friend       Annual reports

Thursday 10 January, 2013

Tesco PLC

Trading Statement

RNS Number : 2198V
Tesco PLC
10 January 2013



News release….

Thursday 10 January 2013






·     UK like-for-like sales growth of +1.8% benefiting from an improving offer for customers

Recovering in-store performance - particularly in food

Strong contribution from online

·     Asia and Europe - similar performance to Q3

·     Chris Bush appointed as UK Managing Director


Philip Clarke - Chief Executive


"The Group performed broadly in-line with our expectations through the Christmas period, with an improved performance in the UK and maintained trends elsewhere as we continue to experience tough trading conditions - particularly in Central Europe.


"I am pleased with our performance over the important Christmas and New Year period in the UK, which reflects the progress we are making in improving our offer for customers.


"This performance was driven by a further improvement in our food business in-store and a strong contribution from online, which included our biggest ever week for internet sales, a successful first Christmas for Grocery Click & Collect and a better performance for Tesco Direct, our online general merchandise business.


"We are just nine months into the implementation of our six-part plan, which is about Building a Better Tesco in the UK for the long-term.  Whilst our seasonal performance is encouraging, there is a lot more to do and the team is focused on delivering further improvements for customers in 2013."


Group sales


Group sales in the six weeks to 5 January 2013 increased by 3.8% including petrol (3.5% at actual exchange rates) and by 3.9% excluding petrol (3.6% at actual exchange rates).


UK performance


In the UK, total sales including VAT and petrol grew by 4.2% and by 4.3% excluding petrol.


Like-for-like sales grew by 1.8% - our strongest rate of growth for three years.  This was driven by a much stronger food performance than last year and a further improvement from the third quarter.  Most of our efforts to date under our six-part plan to Build a Better Tesco in the UK have focused on food - and particularly fresh food - so this performance provides further encouragement that the delivery of the plan is on track.


Finest and Everyday Value both outperformed the business as a whole, with customers responding well to a much stronger seasonal offering in these ranges, in addition to the successful re-launch of Everyday Value in April last year.


Our general merchandise performance - both in-store and online - was better than in the third quarter but was still a drag on our overall rate of growth, with more to be done on refocusing the business on sustainable, profitable categories in the coming year.  Clothing enjoyed a stronger period - again, both in-store and online - on top of positive performances in the last two quarters.


We saw a slightly lower contribution from net new space in the period, reflecting our reduced opening programme, although those new stores we have opened performed well.


We benefited from a strong online performance over the period, with online food sales growth of 18%.  Over half a million food orders were fulfilled in the week before Christmas, with nearly 5% of these being picked up by customers choosing to use our drive-through Click & Collect service, which is now available at over 140 stores.


Tesco Direct sales were up by more than 16%, with Click & Collect once again proving a particularly attractive option for customers ahead of Christmas.  Many customers chose to collect their orders from one of over 600 Express stores now offering Click & Collect, providing an even greater level of convenience.


Today, following a period of nine months during which Philip Clarke temporarily led both the Group and the UK business, we are announcing the appointment of Chris Bush as UK Managing Director.  Chris, who has over 30 years of experience at Tesco, will take responsibility for the UK business, supported by the strong UK Leadership Team.

Further details on this announcement and related management moves can be found at:


International performance


Our international businesses performed at a similar level to Q3, with total international sales growth of 3.4% (2.6% at actual exchange rates).


Asia delivered an increase in total sales of 7.6% (8.1% at actual exchange rates), with a slightly better like-for-like sales growth rate than the third quarter.  This reflects a stronger performance in Thailand more than offsetting the impact of a greater number of enforced store closure days in Korea than we experienced in Q3.


In Europe, total sales declined by (0.6)% (a decline of (2.4)% at actual exchange rates).  The like-for-like sales performance for the region was similar to the third quarter and continued to be impacted by reduced consumer spending, with all markets experiencing economic headwinds.


In the United States, total sales for Fresh & Easy were up by 4.1%.  We will update on progress on our strategic review of Fresh & Easy at our Preliminary Results in April, as planned.




Consistent with the guidance provided in our Third Quarter Interim Management Statement in December,  our outlook for the full year for the UK is unchanged and we expect the broad trends we have seen so far in the second half to continue through to the year-end, in particular the persistently tough conditions for consumers in Central Europe.



Appendix 1 - Segmental Sales Growth Rates


Christmas Period 2012/13 Sales Growth (inc. VAT)


Actual rates

Constant rates



Inc. Petrol

Exc. Petrol

Inc. Petrol

Exc. Petrol

Inc. Petrol

Exc. Petrol


































   United States
















Tesco Bank









Appendix 2 - UK Like-For-Like Growth



Christmas Period Like-For-Like Growth 2012/13

Third Quarter Like-For-Like

Growth 2012/13

UK LFL (inc. VAT, inc. petrol)



UK LFL (inc. VAT, exc. petrol)



UK LFL (exc. VAT, exc. petrol)



UK LFL (exc. VAT, exc. petrol and IFRIC 13 compliant)







Investor Relations:                 Chris Griffith                         01992 644 800


Press:                                     Tom Curry / Tom Hoskin     01992 644 645

Brunswick                            0207 404 5959




For UK, ROI and the US, these results are for six weeks for both the current year and the previous year comparison, for the period ended 5 January 2013 and 7 January 2012 respectively.

For Tesco Bank and India, these results are for the month of December and one additional week for both the current year and the previous year comparison, for the period ended 7 January 2013 and 7 January 2012 respectively.

For all other countries, these results are for six weeks for both the current year and the previous year comparison, for the period ended 6 January 2013 and 8 January 2012 respectively.

Our Preliminary Results for 2012/13 will be released on 17 April 2013.


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

a d v e r t i s e m e n t