Home / Articles / Tesco boosted by Christmas sales growth

Tesco boosted by Christmas sales growth

Tesco reported a 1.9% rise in UK like-for-like sales over Christmas with a strong performance in groceries though it had a tougher time outside its food aisles.

Britain’s biggest supermarket said food sales were up 3.4% in the six-week period to 6 January but that the performance of general merchandise dragged on the overall performance – though clothing was up.

Tesco also took a significant hit from lost tobacco sales after the collapse of wholesaler Palmer & Harvey in November put an extra strain on its distribution network.
Shares opened 4% lower.
Chief executive Dave Lewis said the business had again worked with suppliers to try and limit the impact of higher costs on shoppers.

Alongside the Christmas update, Tesco reported a 2.3% rise in sales for the third quarter, just before the festive period, meaning that for the combined 19 weeks it was up by 2.1%.
The figures were published at the same time as a slew of retailers’ trading updates, with rival supermarket Waitrose seeing like-for-like sales up by 1.5% over the six weeks to 30 December.

More from Business

Waitrose, owned by the John Lewis Partnership, hailed the impact of “innovative” products such as chocolate and ginger mince pies and one-day only cut-price offers, but said the “highly competitive” market saw its profit margins come under pressure.
More follows…

Source: Sky

About Business Ideas UK

My name is Joel Bissitt. I have been an entrepreneur for 24 years and have run many small businesses across various sectors. For the last 10 years I have worked mainly within online media, franchising and small business start-ups.

Check Also

Another 40 Poundworld stores to close

Forty more Poundworld stores are to close later this month, leading to the loss …

Free Franchise Guide
close slider

Free Franchise Guide

Interested in buying a franchise? The our FREE Franchise Guide is a must! The guide contains lots of information to help you decide if franchising is right for you.

Yes, I'd like to join the Franchise UK mailing list.