Jan 10, 2019

Tesco boosted by strong Christmas despite ‘challenging’ market

Tesco's UK business received a trading boost over the Christmas period, signalling British consumers remained willing to spend on food despite cutting back in other areas. The grocer said that like-for-like sales over Christmas rose 2.2 per cent in its UK stores, compared to the same period last year. Tesco is also fighting against competition from German discounters Aldi and Lidl, which according to market research group Kantar Worldpanel were visited by two-thirds of British households in the 12 weeks to December 30. Booker, the wholesaler purchased for £4bn by Tesco last year, is growing strongly, the group said on Thursday. Like-for-like sales at Booker grew by 11 per cent in the third quarter compared to the comparable period a year ago, Tesco said.

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