Tesco sales rise year-on-year

Leading UK supermarket chain Tesco has seen its annual Q3 sales increase 2.8 per cent year-on-year with ‘heavy discounting’ named as one of the chief reasons for its success.

Non-food items such as toys and electrical goods performed particularly well. Total annual growth hit 8.8 per cent.

The news comes as UK video games retailer GAME blamed competition from supermarkets for its 10.8 per cent drop in sales.

We are seeing improving customer confidence and encouraging trends in both the UK and our international businesses, although recessionary conditions still exist in a number of markets,” chief executive Terry Leahy stated.

Tesco earlier this year sparked a ferocious price war when it discounted EA’s FIFA 10 to just 24.97 on its day of release.