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Tesco Delivers Sixth Consecutive Quarter Of Growth

Published on Jun 20 2017 11:24 AM in Retail

Tesco Delivers Sixth Consecutive Quarter Of Growth

Tesco Ireland delivered its sixth consecutive quarter of growth. The retailer delivered a like-for-like growth of 0.2%, according to its First Quarter Trading Statement 2017/18.

It said that its like-for-like sales growth in its Irish operations reflected 'the deflationary effect' of its 'ongoing investment in core food lines. Volumes grew strongly at 3.8%, including 5.3% growth in fresh foods'.

Like-for-like sales in the combined UK & ROI business grew by 2.2%.

According to Dave Lewis, chief executive, Tesco, "This is a good start to the year, with our sixth consecutive quarter of positive like-for-like sales growth across the Group.

"We are confident in our plans to create long-term, sustainable value for our key stakeholders and to deliver on the ambitions we have set out".

The period marked Tesco’s strongest UK sales growth in seven years, and the last quarter showed a 4.6% annualised increase in volume sales for Tesco’s Irish operations.

© 2017 - Checkout Magazine by Donna Ahern

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