Tesco PLC (TSCO) - Q1 Trading Statement 2024/25
Posted: June 14th, 2024, 7:09 am
UK: Strong market share performance and strengthening volumes
Market share growing ahead of all key competitors, up +52bps to 27.6%2, supported by 15 consecutive periods of positive switching gains3
Food sales up +5.0%, including strong volume growth across the quarter, particularly in fresh food; non-food sales up +0.7%, driven by strong growth in clothing
Cheapest of the full-line grocers for 19 consecutive periods4 through powerful combination of Aldi Price Match on c.700 lines, Low Everyday Prices, with >1,000 prices locked, and Clubcard Prices
Growth in all channels; online sales up +8.9%, driven by volume growth and strong contribution from Whoosh
Finest sales continue to grow strongly, up +12.5%; net switching gains from premium retailers for 22 periods3
Ongoing investment in colleague hours supporting further improvement in brand perception, customer satisfaction5 and availability, which is up +1.5ppts year-on-year to 95.9%
https://www.investegate.co.uk/announcem ... 5-/8259370
Also posted on Company News here; viewtopic.php?p=668925#p668925
I hold these in my HYP, and I know others here do too, so this may be of interest here.
Ian.