Information technology continues to underpin growth
atTesco
, the UK's largest retailer, which has a growing international
presence.
Chief executive
Terry Leahy
has reported that internet sales now contribute 4.2% of Tesco's
group profits and 3.1% of sales. Profits from Tesco's online foods
sales were up almost 50% on sales that grew 31% and a customer base
of more than one million active users that was up 20%.
Tesco's banking division, whose 26 products attracted 1.7
million new customers, saw a 50% rise in online customers and a 20%
rise in online business transacted in the year. "Most products are
available online, where more than 50% of new sales are now made,
after a 20% rise in internet business in the year," Leahy said.
Tesco Telecoms' joint venture with O2 in mobile phones moved
into profit on the back of a 39% rise in sales to a customer base
that grew 250,000 last year, he said.
Leahy said 22.5 million fewer customers had to queue, thanks to
new thermal imaging technology that alerted store managers to open
more tills when the queue was longer than one person. This was
helped by new checkout technology that was faster, more accurate
and easier to use, he said.
He added that on-shelf availability of products, as measured by
picking lists from tesco.com, had improved again. "More customers
are able to buy everything they want when they shop at Tesco,"
Leahy said.
Tesco's preliminary results showed an 11.1% increase in sale to
almost £52bn, with underlying pretax profits up 11.8% to
£2.85bn.