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Tesco Interim Results 2017- 2018

Dublin, 4th October 2017

Group highlights

To access the Tesco PLC press release, please visit: https://www.tescoplc.com/media/460535/tesco-plc-interim-results-1718.pdf

 

Tesco Ireland highlights

Tesco Ireland has reported a statutory like-for-like sales performance of 1.1% and revenues of €1,23bn (exc. VAT, inc. fuel) in the 26 weeks ending 26 August 2017 supported by a strong second quarter with like-for-like sales of 2%, its best quarter since Q2 2010.

Tesco Ireland remains the market leader in volume sales, and continues to experience strong growth in important core fresh categories including produce, meat and bakery as well as Tesco own label products including Tesco finest*. We continued to invest in lower prices and the launch of the 800, which gives customers the peace of mind that they won’t pay more at Tesco for the products that matter most to them. We opened our first new store in two years, in Swords, and we continued our store refresh programme with a further 18 large stores and 18 Express stores being upgraded in addition to refreshes in 106 produce sections. We also continued to grow our Grocery Homes Shopping business with an extension of our van fleet and the launch of 6 new click & collect locations.

Andrew Yaxley CEO Tesco Ireland said: “Our focus is to serve Ireland’s shoppers a little better every day. Our prices are lower, availability is better, service is improving and our Tesco own label range is stronger than ever. More customers are shopping with us and when they do they are buying more items per trip. We’ve seen good improvements in our customer, colleague, community and supplier measures reflecting our focus on making Tesco a better place to work and shop.”