Supermarket Giant Sees 2.8% Increase in Group LFL Sales
- Tesco celebrates ‘biggest ever’ Christmas
- 2.8% increase in group like-for-like sales in 13 weeks to 23 November
- 3.8% rise in six weeks to 4 January
- UK LFL sales up 4.1% over festive period
- Food sales increased by 4.7%
- Non-food sales (excluding toys) rose 4%
- Sales of premium Finest range up 15.5%
- Online sales surged 10.8% with Whoosh instant delivery service
- Tesco CEO Ken Murphy praises team’s efforts
Tesco has reported its highest market share since 2016, with a 2.8% increase in group like-for-like sales during the 13 weeks leading up to 23 November and a 3.8% rise in the six weeks ending 4 January. Over the festive period, UK LFL sales jumped by 4.1%. Food sales grew by 4.7%, driven by volume growth and a strong contribution from fresh food. Non-food sales (excluding toys) rose by 4%. Sales of Tesco’s premium Finest range, featuring around 300 festive products, increased by 15.5%. Online sales soared by 10.8% during the Christmas period, fueled by 1.2 million customers using the Whoosh instant delivery service. CEO Ken Murphy praised the team for their efforts in providing value, quality, and service, resulting in Tesco’s biggest ever Christmas. The company has been investing in improving product ranges and customer experience, with an additional 28,000 colleagues supporting during the holiday season.
Factuality Level: 8
Factuality Justification: The article provides accurate information about Tesco’s performance during the Christmas period, including sales figures and growth in various categories. It also includes a quote from the CEO, Ken Murphy, discussing their strategy and success factors. However, it abruptly ends with unrelated information about H&M, Sports Direct, and Zara, which is not relevant to the main topic.
Noise Level: 3
Noise Justification: The article provides relevant information about Tesco’s strong performance during the Christmas period, highlighting its growth in market share and sales figures. It also mentions the factors contributing to this success, such as investments in value, quality, and service. However, it briefly diverts into mentioning other retailers like H&M, Sports Direct, and Zara without providing any context or connection to Tesco’s performance.
Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses Tesco’s strong performance during the Christmas period, including increased sales and market share growth. While it does not directly mention any specific financial markets being impacted, it highlights the company’s focus on value, quality, and service which are relevant to the financial success of the supermarket.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
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