Tesco said its performance in its Asian business continues to be “strong” as it kicked off an analyst event in the region yesterday.
Sales in China rose 8.3% in the 9 weeks to October 31, while increasing 6.7% in South Korea.
In Malaysia sales edged up 0.5% while in Thailand sales jumped 3.4%. However Japan suffered a 5.7% decline.
Analysts will visit the South Korea and China Tesco businesses with senior management of Tesco as well as local management, who will “describe aspects of the business in some detail, in presentations and store tours”.
Tesco now generates 31% of sales and 22% of profits from international operations, compared with 10% and 5% respectively ten years ago.