The UK’s biggest grocer Tesco announced in its Q3 and Christmas trading statement that it is the only one of the major grocers to have grown its market share vs pre pandemic levels over the Christmas period.
Highlights from the update include:
– Revenues jumped 6.1% to £19.7bn
– 8.2% year on year increase in sales of its premium ‘finest’ range
– Volumes on Low Everyday Prices range up +7.4%
– online sales returning to growth within the period, with sales +59% higher than pre-pandemic & participation stabilising at around 13%
Tesco CEO Ken Murphy comments on outlook; “I’m really pleased with our performance over this period – particularly the further strong growth at Christmas on top of the exceptional growth of the last few years”