The result came despite "modest" UK sales growth in the 26 weeks to August 28th, constrained by higher fuel costs as customers spent more at the pump instead of in store and due to low food inflation. Delivering his last set of results, outgoing chief executive Sir Terry Leahy said the retailer - which plans to create 9,000 jobs in the UK this year - was experiencing "the tailwinds of recovery".
The firm said UK like-for-like sales excluding petrol rose 1.3% in the second quarter, compared with 1.1% in the first quarter - but, adjusting for VAT sales, the figure was just 0.3% higher over the half-year... read more
The Appointment
Oct 10
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