Gentle peak growth for Tesco

Tesco saw moderate growth in like-for-like sales at 1.2% over the peak period while its new subsidiary Booker saw stronger growth at 9.6% in the 19 week period to 5th January.

Q3 business in like-for-like sales saw growth of just 0.7%, which while very small is Tesco’s 12th straight quarter of growth. Over Christmas this hit 2.2%, averaging out at 1.2%.

Online sales, while not spectacular, still did better than last year. The online sales segment saw a 2.6% increase in like-for-like sales over the peak period (the six weeks to 5th January). His amounted to 776,000 orders and 51 million items sent to customers.

Booker saw Q3 like-for-like sales growth of 11%. Compared to last year, it saw a 6.7% increase in sales over the peak period.

The ‘Joining Forces’ programme with Booker continues to make good progress with Booker lines now available in 70 Tesco stores.

“As a team we have achieved a lot in the last 19 weeks. In the UK we delivered significant improvements in our competitive offer and this is reflected in a very strong Christmas performance which was ahead of the market,” said Tesco chief executive, Dave Lewis. “We have more to do everywhere but remain bang on track to deliver our plans for the year and as we enter our centenary we are in a strong position.”

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