Tesco has issued the following trading statement for 19 weeks ended 9 January 2016:
Christmas (six weeks ended 9 January 2016)
- Group like-for-like sales growth of +2.1%
- UK like-for-like sales growth of +1.3%
- Customer satisfaction improved – all measures up between +3% and +5%
- Customer transactions up +3.4%; volumes up +3.5%
- International like-for-like sales growth of +4.1%
Third quarter (13 weeks ended 28 November 2015)
- Group like-for-like sales performance of (0.5)%
- UK like-for-like sales performance of (1.5)%
- Reflects impact of lapping unsustainable couponing in prior year
- International like-for-like sales growth of +2.9%
Dave Lewis, chief executive, says: “Our Christmas performance was strong, benefiting from lower prices on an outstanding range of products. Our customer service improved materially and our colleagues went the extra mile. Put simply, we put customers at the heart of everything we did and they responded by buying more of what they needed at Tesco.
"International sales have also continued to strengthen, driven once again by improvements across the offer. We continued our strong positive sales momentum in both Europe and Asia, with our Thai business reaching its highest ever market share.
"We are continuing to focus our efforts on serving our customers a little better every day and I want to thank my colleagues across the Group for their commitment, passion and energy. There is plenty more to do, but we are making good progress and are trading in line with profit expectations for the full year.”
The full report can be found here.
