Tesco experiences sales boost

Tesco has reported a sales increase of 1.3 per cent to £12.4 billion in the first quarter of the year across its UK and Ireland market.

The supermarket retailer saw total UK sales rise by 0.5 per cent year-on-year to £10 billion and by 9.3 per cent compared to pre-pandemic levels.

The company said that the growth in comparison to two years ago included the “retained benefit of customers consuming more meals at home” due to lockdowns triggered by the coronavirus pandemic.

In Ireland sales were down by 6.1 per cent compared to last year but 13 per cent higher than in 2019.

Online demand remained high, with 1.3 million orders per week with two-year sales growth of 81.6 per cent and a one-year sales increase of 22.2 per cent.

“We delivered a strong performance in the first quarter, even as we lapped the high demand of last year due to the pandemic,” said Ken Murphy, chief executive. “Our profit guidance from April remains unchanged. While the market outlook remains uncertain, I’m pleased with the strong start we’ve made to the year and continue to be excited about the many opportunities we have to create value over the longer term.”

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