Tesco, the UK’s largest retailer, delivered its “biggest ever” Christmas performance by lowering festive prices and attracting shoppers from competitors. Tesco’s wholesaler division, Booker, faced challenges with a 2.6% decline in Q3 sales, but improved during Christmas with a 1.4% rise, despite weaknesses in tobacco sales and the fast-food market serviced by Best Food Logistics.
While Christmas sales were strong, Tesco’s like-for-like growth over the broader third quarter was slower, with a 2.8% increase.
Looking ahead, Tesco expects full-year adjusted group operating profits to reach £2.9 billion (US$ 3.57bn).
