Strategy spells success for Tesco. (European News).(global expansion )(Brief Article)

Cosmetics International, October, 2002

Increased global expansion was on the agenda as UK supermarket chain Tesco released its interim results for the 24 week period ended 10 August 2002.

Group sales were up by 10.6% to 12.7bn [pounds sterling] and group profit before tax was up some 13.3% to 545mn [pounds sterling], excluding the net loss on disposal of fixed assets and goodwill amortisation.

Globally, UK sales rose by 6.8% to 10.5bn [pounds sterling], 3.9% of which came from existing stores and 2.9% was attributed to net new stores, UK operating profit stood at 537mn [pounds sterling], 7.2% up on the same period last year, while operating margin remained flat at 5.6%. Total international sales were up 32.3% to 2.3bn [pounds sterling] and were responsible for 59mn [pounds sterling] of...

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