Tesco delivers “biggest ever” Christmas
Tesco has delivered its “biggest ever” Christmas as it continues to grow its market share.
In the six weeks to 4 January, the supermarket’s like-for-like sales increased by 3.8%, with growth of 4.1% in the UK and 4.8% in the Republic of Ireland.
Food sales rose by 4.7%, primarily driven by volume growth with a strong contribution from fresh food. Non food sales, excluding toys, increased by 4%.
Tesco said it benefited from the addition of over 350 new or improved Christmas items in the period, as well as the popularity of products in its Finest range, including its Chef Collection.
Meanwhile, third quarter sales in the 13 weeks to 29 November grew by 2.8% overall and by 3.8% in the UK.
Ken Murphy, Tesco chief executive, said: “I am very proud of the entire Tesco team and the way we served customers this Christmas. We invested to bring the best value, quality and service to everyone, no matter how or where they shopped with us. As a result, we delivered our biggest ever Christmas, with continued market share growth and switching gains.
“Our strong performance reflects the investments we have made, positioning Tesco as the UK’s cheapest full-line grocer for over two years, improving quality across all our ranges, with more than half of this year’s Christmas range new or improved, and providing the best experience for our customers in-store and online, supported by an extra 28,000 colleagues over the Christmas period.”
Looking ahead, Tesco said its ongoing investments in its customer offer has set it up well to deliver long-term growth. As a result, it expects retail adjusted operating profit for the 2024/25 financial year to come in at around £2.9 billion, in line with existing guidance.
Murphy said: “I would like to say a huge thank you to everyone at Tesco for their hard work in delivering a great Christmas. As we start 2025, we look forward to continuing to offer our customers the very best products and experience at Tesco.”
