The UK’s biggest supermarket chain reported UK and Ireland like-for-like sales, excluding fuel and VAT, up 3.7% over the six weeks to January 4.Tesco has cheered his highest market share since 2016 after ringing up a rise in sales as it said customers switched to the supermarket over the crucial Christmas season
It said sales over its third quarter before the Christmas period lifted 2.8% across the 13 weeks to November 23, with sales up 3.1% in total over the 19 weeks to January 4. Chief executive Ken Murphy said Tesco would “do our very best” to keep prices low in the face of a raft of cost increases linked to the autumn Budget.
The firm is planning to make cost savings across the business to offset the extra wage bill, for example through better buying and freight.