UK: Tesco enjoys Europe clothing boost
UK supermarket retailer Tesco has posted strong interim sales growth for its clothing unit, bolstered by the European market.
Tesco CEO Sir Terry Leahy told investors today (5 October) that F&F is a brand leader in Central Europe, and predicted a "good performance" for F&F clothing in the UK.
He said that clothing in the UK grew ahead of the market, with a particularly strong performance in menswear, and with children's wear buoyed by a strong back-to-school season.
Tesco reported a 12% increase in clothing sales in Europe, adding that it was now a market leader in both Hungary and the Czech Republic.
The company also opened its first standalone clothing store in Prague last week.
Earlier today Tesco posted a 16% rise in overall profits for the first half of its fiscal year on the back of growth strong international results. Click here to read more on the company's H1 performance.
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