Financial Times FT.com

Tesco aims to close growth gap

By Andrea Felsted

Published: June 16 2009 18:33 | Last updated: June 16 2009 18:33

Tesco insisted it was narrowing the gap on faster-growing UK rivals Wm Morrison, J Sainsbury and Asda, as international sales buoyed its first-quarter performance.

Revealing a 4.3 per cent increase in first quarter UK like-for-like sales – in line with analysts’ forecasts – Laurie McIlwee, finance director, said Tesco was back on its game and would continue to close in on smaller competitors.

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