Tesco has posted a 1.3 per cent rise in like-for-like UK food sales over the Christmas trading period.
The retailer said the results, which cover the six weeks to the 7 January 2017, were helped by a “significant market outperformance in fresh food”.
The retailer has also released its third quarter results, where like-for-like UK sales grew by 1.8 per cent in its eighth consecutive quarter of like-for-like volume growth.
Chief executive Dave Lewis said he is “encouraged by sustained strong progress” across the group.
“In the UK, we saw our eighth consecutive quarter of volume growth and delivered a 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.
In a statement addressing price inflation in the market, Tesco said: “We have worked hard throughout the period – in collaboration with our supplier partners – to minimise the impact on our customers of the inflationary pressures that have started to emerge in the market.
“As a result, while deflation has eased, the price of a typical basket remains nearly seven per cent cheaper than in September 2014.”
International like-for-like sales grew by 1.2 per cent over Christmas, which reflects a particularly strong seasonal performance last year in addition to weaker consumer spending in Thailand. Tesco’s international like-for-like sales grew by 0.6 per cent in Q3, reflecting a more competitive environment in Poland.
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