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Tesco like-for-likes edge up in first quarter

Tesco has reported that like-for-like sales in the UK and Ireland edged up 0.8% in its first quarter. On a total basis, sales in the region… View Article

FOOD & DRINK

Tesco like-for-likes edge up in first quarter

Tesco has reported that like-for-like sales in the UK and Ireland edged up 0.8% in its first quarter.

On a total basis, sales in the region were up 1.3% to £11.1 billion as the company invested in its ranges, prices and loyalty programme in the 13-week period to 25 May.

The supermarket said its prepared foods and bakery and dairy categories performed particularly well. There was also a strong performance online with grocery sales up 7% year-on-year. In addition, the period included Tesco’s biggest-ever sales day for small stores on Easter Sunday.

Meanwhile, like-for-like sales in Asia rose by 0.1% as the retailer increased its market share in Thailand due to strong growth in Bangkok.

However, like-for-like sales in Tesco’s central Europe business fell by 4.9% as the business was hit by declining sales in Poland and cooler weather.

The performance meant that Tesco’s group like-for-sales rose by 0.2% in the period. Total sales edged up 0.4% to £13.9 billion.

Dave Lewis, Tesco chief executive, said: “We have had a strong start to the year, growing ahead of the UK market on both a volume and value basis.   Our customer offer is more competitive than ever, with a wider choice of our ‘Exclusively at Tesco’ products now available in more stores, helping to drive more than 10% sales growth across the range.”

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