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Tesco Ireland sees sales rise over Christmas

12 January, 2018, 03:24 | Author: Melinda Barton
  • Tesco is festive winner reporting record Christmas sales

Tesco, which has a 28 percent share of the British grocery market, reported a 1.9 percent rise in like-for-like revenue in the six weeks to January 6.

Its figures were released at the same time as rival John Lewis, which reported a 3.1% rise in like-for-like sales for the six weeks to 30 December. "As a result, full year guidance remains unchanged".

However, when taking all of the Big 4 retailer's worldwide markets into account, total like-for-like sales grew by 0.6 per cent during that period, but overall sales enjoyed a 1.8 per cent uplift.

According to its latest trading update, third quarter like-for-like sales in the United Kingdom grew by 2.3 per cent - representing Tesco's eighth consecutive quarter of growth - and total sales grew 2.5 per cent.

Supermarket giant Tesco has emerged as a festive victor of the Big Four, reporting a steep rise in sales over the Christmas trading period.

"Our fresh food ranges performed particularly well, as did F&F Clothing, which saw double-digit growth", said Andrew Yaxley, chief executive of Tesco Ireland.


But Tesco missed overall group forecasts for Christmas trading as strong sales of fresh food were undermined by lower demand for general goods such as DVDs and computer games. The hard discounter claimed to be the UK's fastest growing supermarket during the four weeks to 31 December 2017.

The long-ailing clothing and home division has been the thorn in M&S's side for many years but Mr Rowe said that had October been better, the unit would have churned out a positive result as sales instore and online had ticked up over the last two months.

Marks & Spencer recorded a 1.1% uplift in United Kingdom revenue, but global sales were down 9.8%, reflected the completion of the planned closure of owned stores in loss-making markets.

Like-for-like sales at Marks & Spencer (M&S) were underwhelming, dropping by 0.4%.

The performance of the fresh food category had been helped by a strong seasonal offer, said Tesco, including its "Festive 5" vegetable deal.

The company said its food business experienced ongoing trading pressures as consumer spending reflected tighter household budgets after wage growth during the second half of the year failed to keep pace with consumer price inflation.

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