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Tesco saw eighth consecutive quarter of like-for-like growth

Tesco
Retail   International LFLs sales declined 1.2%

Tesco notched an eighth consecutive quarter of like-for-like growth and its first quarterly market share gain in five years.


Over the 13 weeks to November 26 that made up the third quarter, group like-for-like sales grew 1.5%, with the UK LFL sales up 1.8%.

For the six Christmas weeks to 7 January group LFL growth slowed to 0.3%, or 0.7% in the UK, with lower general merchandise sales due to not repeating a Clubcard 'Boost' promotion.

International LFLs sales declined 1.2% in the Christmas period, against growth of 0.6% in the third quarter, against a particularly strong seasonal performance last year on top of a weakening of consumer spending in Thailand.

Chief executive Dave Lewis said he was "very encouraged" by the sustained progress and third successful Christmas.

"Our fresh food ranges proved particularly popular, outperforming the market with great quality, innovative new products and even more affordable prices.

"Internationally, we have continued to focus on improving our offer for customers in challenging market conditions."

 

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