Business Services Industry
British retailer Tesco challenges rivals in apparel, electricals, petrol.
Knight Ridder/Tribune Business News, November, 2004
By James Quinn, Daily Mail, London Knight Ridder/Tribune Business News
Nov. 26--With just 29 shopping days to go until Christmas, it is no wonder that Tesco's very own Santa Claus, Sir Terry Leahy, is smiling. The latest data show group sales up 12.2 percent in the last three months, putting him on course to drive his sleigh through the 2 billion pounds profit barrier this year.
But with 1 pound in every 8 pounds spent in shops in the UK going through Tesco's tills and the shares up 10 3/4 pence to a record high of 308 3/4 pence, there will be no "ho ho hos" to be heard from Leahy's rivals -- least of all the struggling Sainsbury.
Tesco has already cemented its mastery in food sales. But it is in the non-food sector -- including...
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