Tesco 2012/13 Q3 Interim Management Statement

DividendMax Ltd.

Tesco 2012/13 Q3 Interim Management Statement

Philip Clarke, Chief Executive said:

"I am pleased with the performance of our food business in the UK.  Our six-part plan is about improving the shopping trip for customers for the long-term and this is a positive early sign.  We've now refreshed nearly 300 stores, upgraded or introduced well over 3,000 products and added innovations such as Delivery Saver to our already successful online grocery business - and there is plenty more to come in 2013.

"Our general merchandise performance overall in the UK was not good enough, and we are renewing our efforts to deliver sustainable, profitable growth in this part of the business.

"We have seen a further weakening in consumer spending in Central Europe, although the effects of this have been partly offset by a better quarter in Asia.

"I am looking forward to the important seasonal period ahead, and am confident in our plans to deliver further improvements in our shopping trip for customers."

Companies mentioned