Business
Tesco PLC Q1 23/24 Trading Statement
Tesco PLC Q1 23/24 Trading Statement.
About this update from Tesco Plc
[{"type":"text","content":"\n\n \n \nQ1 Trading Statement 2023/24\n \nONGOING FOCUS ON VALUE AND QUALITY DELIVERING STRONG PERFORMANCE.\nSales performance (exc. VAT, exc. fuel) for the 13 weeks ended 27 May 2023: \n\n\n\n \n\n\nSales (£m)\n\n\nLFL sales change\n\n\n \n\n\n\n\nUK & ROI\n\n\n13,790\n\n\n8.8%\n\n\n \n\n\n\n\n UK\n\n\n10,800\n\n\n9.0%\n\n\n\n\n\n\n\n ROI\n\n\n714\n\n\n7.3%\n\n\n\n\n\n\n\n Booker\n\n\n2,276\n\n\n8.4%\n\n\n\n\n\n\n\nCentral Europe\n\n\n1,044\n\n\n1.1%\n\n\n \n\n\n\n\nGroup Retail\n\n\n14,834\n\n\n8.2%\n\n\n \n\n\n\nUK: Ongoing focus on value for customers, leading to continued strong performance\n· Strong performance across all formats and channels:\n- maintaining strong market share at 27.1%1\n- large stores sales particularly strong (LFL +9.9%)\n- online sales up 8.2%; online market share up +75bps to 37.5%2\n· Further increased Aldi Price Match to c.700 products; strong volume response to latest Low Everyday Prices price-lock on over 1,000 products; Clubcard Prices now available on over 8,000 lines\n· Price index3 further improved; led the market in cutting prices on essential items to support customers\n· Ninth consecutive period of switching gains4 from premium retailers, supported by strong Finest performance with sales up 14.9% and over 100 new Finest products launched\n· Delivered market-leading availability, with further improvement through the quarter\nROI: Strong performance with continued growth in market share year-on-year\n· Strong growth in Food (LFL +9.4%), successful integration of Joyce's and five additional new stores contributing to market share up +52bps5 YoY\n· Further strengthened price index6 vs. limited range discounters\nBooker: Significant growth continuing across both retail and catering (Q1 LFL Retail: +6.3%, Catering: +10.8%) \n· Retail sales grew +15.6% excluding tobacco, supported by strong availability and continued focus on choice, price and service, with great range of promotions and access to fast growi...