Tesco sales up 9% amid signs of easing inflation
The company also further extended its Aldi price match scheme to around 700 products
Tesco has announced that its sales excluding fuel in the UK and Ireland have risen 9% to £13.8bn for the 13 weeks ended 27 May 2023.
Overall, the company posted sales of £14.8bn across its stores in the UK, Ireland and Central Europe including Booker, an increase of 8.2%.
This comes as CEO Ken Murphy stated that the supermarket was seeing “encouraging early signs that inflation is starting to ease across the market”.
Alongside the sales increase the supermarket managed to maintain its strong market share at 27.1%.
Furthermore the supermarket stated that it “led the market in cutting prices on essential items to support customers”.
The company also further extended its Aldi price match scheme to around 700 products.
The Big Four grocer added it saw a strong volume response to the latest low everyday prices price-lock on over 1,000 products and Clubcard Prices are now available on over 8,000 lines.
Murphy said: “We are pleased with our performance in the first quarter, underpinned by our relentless focus on value. Customers continue to recognise our leading combination of great value and quality in every part of their basket – from essentials covered by our Aldi price match, through to our growing finest range.
“The ongoing effort and contribution from our colleagues is evident in the strength of our offer and I want to thank the entire team for everything they do. By focusing on our customers we have delivered a strong start to the year. We are well-positioned for the months ahead and are reiterating our guidance for the full year.”
