This ad will be closed automatically in X seconds.

General merchandise and clothing put in strong performance at Tesco

Q1 figures from the grocer show growth of 10.3% for GM and 52.1% for clothing during the period.

General merchandise and clothing has put in a ‘particularly strong contribution’ to Tesco’s financial results for Q1.

General merchandise enjoyed like for like growth of 10.3% in the 13 weeks to 29 May 2021, while clothing sales enjoyed a healthy 52.1% growth.

Overall, the grocer reported that like for like sales reached £12.42 billion, increasing 1.3% compared with 2020 and by 8.7% compared with the same period in 2019.

Online demand has also remained high during the first quarter, with 1.3 million orders per week and two-year sales growth of 81.6%.

“We delivered a strong performance in the first quarter, even as we lapped the high demand of last year due to the pandemic,” commented Ken Murphy, chief executive of Tesco. “Our profit guidance from April remains unchanged.

“While the market outlook remains uncertain, I’m pleased with the strong start we’ve made to the year and continue to be excited about the many opportunities we have to create value over the longer term.”

Want to read more news like this? Simply sign up to our daily digest by clicking here. You can also follow @LicensingSource on Twitter and @licensing_source on Instagram.

MORE NEWS
CharacterExchangerthumbnail500x500
 
Licensors and licensees down tools for some pre-Vegas Licensing Expo networking....
PSCrane500x500
 
Amusement and arcade games specialist UNIS Technology has joined forces with Toikido, to unveil Piñata Smashlings crane....
B&LLAstrophylineup500x500
 
A host of retail names including Boots, DFS, Dunelm, FatFace, Homebase, Iceland, Matalan, Next, Primark, Sainsbury's, Tesco and TJ Morris will be among those celebrating the achievements of the brand and lifestyle sectors over the past 12 months on Thursday 25 April....
JamesWalkermarathon500x500
 
James Walker, ceo at Character World Brands, is no doubt feeling tired but proud today after having completed the London Marathon yesterday (21 April), running to raise funds for Alzheimer’s Research UK....
CKMIffy500x500
 
Available exclusively at Next in the UK, in Cath Kidston stores in Thailand, Hong Kong and Taiwan and on Next online globally, the limited edition range includes a collection of bags and accessories for women and kids, women’s pyjamas and children’s dresses....
HasbroPlaymates500x500
 
Playmates will be debuting its first Power Rangers collection with a kid-targeted Mighty Morphin Power Rangers toy line in 2025....
Get the latest news sent to your inbox
Subscribe to our daily newsletter

The list doesn't exist! Make sure you have imported the list on the 'Manage List Forms' page.