11:03 11 January 2013
Tesco, one of Britain’s largest supermarket chains, revealed in a statement that they’ve seen a 1.8per cent increased in like-for-like salesin the six weeks to January 5th, 2013.
It beats City forecast in a range of 0.5 to 1.5per cent. Because of this, Tesco shares rose 2per cent in early trading to 356p.
According to Phillip Clarke, Tesco’s Chief executive, one of Britain’s largest supermarket chain is now ‘back in form.’
He added: "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."
Earlier this week, other supermarket chains have reported the amount of their sales over the festive period.
Sainsbury posted a 0.9per cent increase in revenue while Morrisons reported a 2.5per cent fall. Asda is expected to report in February.
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