Tesco Ireland records highest market share growth in five years

Tesco chief Dave Lewis remains upbeat despite festive sales falling short of analysts’ expectations

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.

Just today, fashion retailers announce sales revenues 10-25% higher over the Christmas period, as companies both young (Boohoo) and old (Ted Baker) see bumper demand, further projecting the image of the cash conscious United Kingdom consumer wanting bang for their buck, especially at yuletide.

This means for the overall 19 week period ending January 6, Tesco's United Kingdom like-for-like sales enjoyed a 2.1 per cent uptick, while its overall sales in the country rose by 2.3 per cent.

A trading statement from Tesco's covering its third quarter and the Christmas period, confirms a continuation of positive like-for like sales trends.

Tesco, the UK's biggest supermarket chain, reported like-for-like growth of 1.9% for its United Kingdom stores, a performance it said as thanks to the strength of its food business which saw underlying growth of 3.4%.

Tesco said all its formats, covering stores and online, had performed well, resulting in record sales and volumes in the four weeks leading up to Christmas Day.




Strong turkey sales for Sainsbury's and Lidl come as British supermarkets report financial results covering the Christmas period.

Commenting on the third quarter trading, Steve Rowe, the company's Chief Executive said in a statement: "M&S had a mixed quarter with better Christmas trading in both businesses going some way to offset a weak clothing market in October".

Its like-for-like sales growth was 1.9 percent and food rose by 3.4 percent. Both retailers reported updates in line with expectations with no change to their full year forecasts.

It is also good news for the retailer after facing controversy over its £3.7 billion acquisition of wholesaler and convenience store operator Booker - which was given the final approval from the Competitions and Market Authority just before Christmas.

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

On the other side of the high street, it was a similar story for Marks & Spencer, this morning's worst performing FTSE 100 stock.

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