Tesco Ireland Sees 1.1% Sales Increase In First Half Of Year
Tesco Ireland has reported a 1.1% growth in like-for-like sales to €1.23 billion in the first half of its financial year, ending 26 August 2017.
In the second quarter, in particular, the retailer posted like-for-like sales growth of 2%, which represents its best quarter since 2010.
Tesco is currently the second largest supermarket in Ireland, with a 22% market share, according to the latest figures from Kantar Worldpanel.
The retailer's strong performance in the most recent quarter has narrowed the gap between Tesco and market leader SuperValu to just 0.1%.
Tesco Ireland says that it continues to experience strong growth in important fresh categories including produce, meat, and bakery, as well as its private label brands, such as Tesco finest*.
In May, the retailer opened its first new store in two years, located in the Dublin suburb of Swords, and it is also continuing to refurbish its existing supermarkets.
“Our focus is to serve Ireland’s shoppers a little better every day," said Andrew Yaxley, CEO of Tesco Ireland.
"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."
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.