Supermarket continues its streak of four-week share gains
Tesco has credited fresh food with playing a major role in a strong Christmas performance and highest market share for over a decade.
The supermarket this week reported its financial results for the 19 weeks to 3 January, with UK sales up 3.7 per cent and group sales up 2.9 per cent, excluding VAT and fuel.
In the UK, the retailer noted that it had outperformed the market on both a value and volume basis, with its 12-week market share reaching 28.7 per cent and four-week share at 29.4 per cent. That means 32 consecutive four-week periods of year-on-year gains.
Tesco said fresh food was a standout performer, with like-for-like sales up 6.6 per cent in reflection of ongoing investments in value and quality.
In the Reputlic of Ireland – where sales in the period rose 4.6 per cent – particularly strong growth in fresh food was credited with the performance.
“I am delighted with the strong Christmas we delivered for our customers,” said CEO Ken Murphy. ”Our investments in value, quality and service drove further gains in customer satisfaction and strong growth in fresh food, contributing to our highest UK market share in over a decade.”
Murphy pointed out that in addition to further strengthening its price position, Tesco launched 340 new and improved own-brand Christmas products including 180 in Finest, which again delivered double-digit sales growth.
”Competition is as intense as ever and we know value remains a priority for customers,” Murphy added. ”We are determined to help customers make their money go further, and earlier this week expanded our Everyday Low Prices commitment to over 3,000 branded products, sitting alongside Aldi Price Match on more than 650 lines and thousands of exclusive offers through Clubcard Prices.”
