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Tesco Ireland CEO: "We Are Moving In The Right Direction"

New Tesco Ireland chief executive Andrew Yaxley has said that despite the retailer posting a 6.3% like for like sales decline last year, there are "early indications that we are moving in the right direction."

Tesco Ireland posted sales of €2.56 billion (incl. petrol, excl VAT), for the for the 52 weeks ended 23 February 2015, according to results issued this morning.

“Our performance in the period is reflective of a highly competitive and challenging retail market," Yaxley explained. "We are making long term investments in the things that matter most to customers: reducing prices on everyday items, enhancing the quality of our fresh food offering and improving service."

He added that the retailer has seen an "up-lift in customer loyalty and fresh produce volumes, which are important positive indicators of growing customer confidence.”

Tesco Ireland opened five new stores in the period including: Tesco Park Pointe Superstore, Co. Dublin; Tesco Extra Dundalk, Co. Louth; Tesco Ballincollig Superstore, Co. Cork; Tesco Express, Aungier St., Co. Dublin; Tesco Express Pearse St., Co. Dublin. It closed two stores.

© 2015 - Checkout Magazine by Stephen Wynne-Jones

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