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"Tesco "encouraged by fresh food performance"

Tesco has just released 1st Quarter Interim Management Statement for 2013/14.

Excluding fuel the group as a whole saw sales growth of 2.7% The company reports that it is back on course in the UK, including improved consumer brand perceptions, after the recent horse meat scandal.

It also reports increasing like for like sales across all food areas, except for chilled and frozen products.

Performance outside of Europe has been consistent with last year, which, considering sustained economic difficulties globally, is considered a positive.

This does not include the US, where Tesco took a recent decision to quit with its Fresh & Easy brand - a venture which is estimated to have cost the company in the region of £1 billion in total expenditure.

CEO, Philip Clarke, said, "In April we set out our approach for growth and returns for the group, including a number of appropriate and realistic objectives for the year ahead and we have started the year on track, despite a continued difficult environment for consumers."



Discussing food performances and the attempt to regain consumer confidence, Mr Clarke said, "We have set out our plans to put customers back on the heart of the way we do business and this is particularly evident in our recent initiatives on price and on food trust. Customers across the UK are embracing price promise and we are encouraged by performance in our core fresh food categories and uplifts from refreshed stores.