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Tesco set to outpace global rivals

first_imgThursday 17 February 2011 3:01 am John Dunne Share Tesco set to outpace global rivals Show Comments ▼ whatsapp whatsapp More From Our Partners LA news reporter doesn’t seem to recognize actor Mark Currythegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comKansas coach fired for using N-word toward Black playerthegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comColin Kaepernick to publish book on abolishing the policethegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com Tags: NULL Tesco, the world’s third-biggest retailer, is set to outpace sales growth at major global rivals, driven by its expansion in Asia, according to international food and grocery analyst IGD.The supermarket group will see sales grow at a compound annual rate of 7.5 per cent from 2010-15, or 44 per cent in total, to reach 106 billion euros (£89bn), IGD forecast on Thursday.That will see it outpace compound annual turnover growth of 4.7 per cent at US group Wal-Mart, the world’s biggest retailer, and 5.9 per cent at French company Carrefour, the second biggest.However, those companies will remain larger businesses with sales of 402bn euros and 122bn respectively by 2015, IGD predicted.German group Metro, the world’s fourth-largest retailer, will see compound annual growth of 5.3 per cent, taking its turnover to 87bn euros by 2015, IGD said.“Global retailers that want to achieve the highest growth rates are those that are building a presence in emerging markets,” said IGD’s chief executive, Joanne Denney-Finch, noting that by 2015 some 43 per cent of turnover at the world’s top four retailers will come from their international operations.Tesco unveiled plans in November to quadruple revenue in China to about £4bn by 2014-15 by more than doubling its number of hypermarkets there to in excess of 200 last_img read more