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.

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