LONDON (AP) — A survey released Thursday says sales growth at Britain’s Tesco PLC, the world’s third biggest retailer, will outpace its major international rivals — including U.S. rival Wal–Mart Inc. — in coming years as it expands in Asia.
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 percent between 2010 and 2015, taking sales to euro106 billion ($143 billion).
That contrasts with growth of 4.7 percent for Wal–Mart. But the American company will retain its position as the world’s biggest retailer with sales worth 402 billion euros in 2015. French company Carrefour SA holds second place with growth of 5.9 percent giving it sales of euro122 billion.
Tesco has been expanding rapidly in China and other emerging markets.
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