THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL EVENTS
Christmas Ads
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT
CONTACT
SUBSCRIBE FOR FREE
Tesco posts strong Christmas sales

Tesco increased like-for-like sales by 2.7% year-on-year at its core UK and Ireland supermarket business in the peak Christmas trading period despite the impact of supply… View Article

FOOD & DRINK

Tesco posts strong Christmas sales

Tesco increased like-for-like sales by 2.7% year-on-year at its core UK and Ireland supermarket business in the peak Christmas trading period despite the impact of supply chain issues.

Sales in central Europe were also strong, rising by 8.1%.

In a trading update, the retailer said it achieved its highest market share in four years with growth in both stores and online.

It also put in a strong large store and convenience performance and said that online sales were significantly ahead of pre-Covid levels with around 1.2 million orders per week.

Ken Murphy, Tesco chief executive, said: “We are delighted that we were able to help our customers have a great Christmas. Despite growing cost pressures and supply chain challenges in the industry, we continued to invest to protect availability, doubled down on our commitment to deliver great value and offered our strongest ever festive range.  This put us in a strong position to meet customers’ needs as, once again, Covid-19 led to a greater focus on celebrating at home.  As a result, we outperformed the market, growing market share and strengthening our value position.”

The Christmas performance meant the retailer’s third quarter sales rose by 2.4% with growth of 2.3% in the UK and Ireland.

Tesco now expects full year retail operating profit will be slightly above the top-end of its previous £2.5 billion to £2.6 billion guidance range.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News