Tesco Rings Up 24% Rise in Profits; Clothing and Dvd Sales Help Giant to Take (Pounds) 1 of Every (Pounds) 7 Spent in Uk

Summary

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BUMPER sales of non-food items including clothing and DVDs kept the tills ringing for retailing giant Tesco during the first half of 2004, sending pre-tax profits soaring 24% to (pounds) 822m.

Britain's number one supermarket chain, which accounts for (pounds) 1 in every (pounds) 7 spent in the UK's shops, said its core domestic sales grew 11.5% to (pounds) 13.1bn with underlying operating profit up 13.3% to (pounds) 707m.

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Tesco Rings Up 24% Rise in Profits; Clothing and Dvd Sales Help Giant to Take (Pounds) 1 of Every (Pounds) 7 Spent in Uk

Non-food sales in the UK - a market in which Tesco now has 6.5% of sales - were up 17%, including 26% in home entertainment. Clothing sales, which are estimated to have been around (pou...

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