Tesco has said that the performance of fresh food has driven “strong volume growth” in the Republic of Ireland with continued market share gains.
The supermarket group has today (Thursday, January 9) published its quarter three (Q3) and Christmas trading statement.
Q3 covers the 13 weeks to November 23, 2024 and the Christmas period covers the 6 weeks to January 4, 2025.
Tesco
In Ireland, Tesco said that like-for-like sales were up 4.2% during Q3, while like-for-like Christmas sales rose by 4.8%.
This means that like-for-like sales in the total 19-week period rose by 4.4% to over £1.1 billion.
The supermarket group reported that market share in the period rose by 40 basis points, delivering 34 consecutive periods of gains.
Fresh volume growth was recorded at 2.1%, which Tesco said was supported by ongoing rollout of its ‘fresh first’ refresh programme.
The retailer saw online sales increase by 17.1%, driven by launch of same-day click and collect and home delivery.
Tesco added that investments in quality and innovation were recognised with 21 Blas na hÉireann gold medals.
In the UK, Tesco has reported its highest market share since 2016 at 28.5%, which it said was due to “further improvement in customer satisfaction”.
UK Christmas sales rose by 4.1%, while sales during its fiscal third quarter were up by 3.8%.
Tesco UK food sales were up 4.7%, primarily driven by volume growth across the period, with a particularly strong contribution from fresh food.
The retailer saw strong growth in online shopping in the period, with sales up 10.8% and market share up 122 basis points.
Tesco said that it continues to expect to deliver retail adjusted operating profit for the 2024/25 financial year of around £2.9 billion, in line with previous upgraded guidance.
Ken Murphy, Tesco chief executive, said the company “delivered our biggest ever Christmas, with continued market share growth and switching gains”.
He said that the “strong performance” reflects the investments made by Tesco, positioning it as the UK’s cheapest full-line grocer for over two years.