Tesco’s turnover increased in the first quarter of its financial year

According to the quarterly trading data presented at the London Stock Exchange on Friday, the department store chain’s sales in the 13 weeks ended May 27 – calculated on comparable sales space and product range – increased by 9 percent to 10.8 billion pounds (more than HUF 4,700 billion) in the British market year-on-year.

According to Friday’s report, the turnover of Central European Tesco stores increased by 1.1 percent to an amount corresponding to 1.044 billion pounds (456.4 billion forints).

Calculated together with the turnover of the Irish interest and subsidiaries, the company’s group sales increased by 8.2 percent to 14.83 billion pounds (almost HUF 6,500 billion) in the first quarter of the current financial year.

In his statement attached to the report, Tesco CEO Ken Murphy emphasized: the company is “very aware” of the significant burden the cost of living places on many of its consumers. However, according to Murphy, there are already “early, encouraging signs” of easing inflation.