Turnaround bid appears to start to pay off as Tesco sees best growth in years

Tesco, which also announced the appointment of Chris Bush as managing director to run its key British business, beat forecasts for sales growth in its home market, finally regaining an edge after a terrible performance last Christmas prompted the firm's first profit warning in 20 years and a strategic rethink.

Sales at British stores open over a year, excluding fuel and VAT sales tax, were up 1.8 percent in the six weeks to Jan. 5, part of its fiscal fourth quarter, compared with analysts' forecasts in a range of up 0.5-1.5 percent and a third quarter fall of 0.6 percent.

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