Tesco has reported retail sales have grown by 3.4%, with food sales up by 5.0% particularly in fresh food. While non-food sales were up 0.7%, driven by strong growth in clothing.
Its Q1 results, for the 13 weeks ending 25 May 2024, saw growth in all channels with online sales up 8.9%. Tesco credited its rapid delivery service Whoosh for part of this growth.
The supermarket also championed its Clubcard Prices for being the cheapest of the full-line grocers for 19 consecutive periods. It currently offers Aldi Price Match on 700 lines.
Ken Murphy, chief executive, Tesco, said: “We continue to be the cheapest full-line grocer and are the most competitive we’ve ever been, with our value, product quality and service driving better brand perception and customer satisfaction. Our market share reflects this, growing more than at any other time in the past two years, with customers switching to us from other retailers, shopping with us more often and with more in their baskets.
“We are looking forward to helping our customers celebrate a great summer of sport. We recently launched more than 100 new and exciting own brand products, including our Finest Dine In summer menu, based on classic pub dishes, and improved our Picnic & Deli, BBQ and Sweet Treat ranges. Tesco Finest growth was particularly strong in the quarter as customer perception of the quality of our products continues to improve.
“Following another strong quarter, we’re pleased to reiterate our guidance for the full year, with sales trends in line with our expectations and the business well-positioned for the months ahead.”
Read an exclusive company profile on how Tesco became the UK’s largest supermarket in the first RetailX UK 360° report.
The report offers a briefing on the UK market as a whole, on how shoppers buy and want to buy, on the retailers, brands and marketplaces that are succeeding in this market, and the services that the most successful provide to their customers.
Tesco is one of eight profiles in this new report. Others include Argos, Asos, Currys, John Lewis, Marks & Spencer, Schuh. Screwfix.
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