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Tesco Delivers Strong Third Quarter And Record Christmas

Tesco delivered a strong third quarter in the UK and Republic of Ireland, with like-for-like sales up 2.3%, according to its recent financial results published today.

Its recent preformance represented the eighth consecutive quarter of growth and continued market outperformance.

The third quarter saw its highest rate of growth in market share for more than five years.

This strong momentum continued into the Christmas period, with record sales and volumes across the four weeks leading up to Christmas Day.

"We have continued to outperform the market throughout this period, particularly in fresh food, thanks to our most competitive offer for many years.” Dave Lewis, chief executive, Tesco said.

Fresh Food

Its like-for-like sales in the ROI grew by 3.5% over the 19-week period, driven by fresh food.

In a statement it said that continued focus on improving its offers has resulted in increased volumes, transactions and basket size.

“We are confident in the outlook for the full year and are firmly on track to deliver our medium-term ambitions." Lewis added.

© 2017 - Checkout Magazine by Donna Ahern

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