Report: Tesco growth to outpace competitors

London -- A survey released Thursday said sales growth at Britain's Tesco PLC, the world's third biggest retailer, will outpace its major international rivals -- including Wal-Mart Stores -- in coming years as it expands in Asia, the Associated Press reported.

The report by London-based food and grocery analyst IGD says that Tesco will grow its business at a compound annual rate of 7.5%  between 2010 and 2015, taking sales to euro106 billion ($143 billion).

That contrasts with growth of 4.7% for Wal-Mart. But the American company will retain its position as the world's biggest retailer in terms of sales.

Tesco has been expanding rapidly in China and other emerging markets.

Recommended stories

Login or Register to post a comment.