Tesco achieves highest Christmas sales in 10 years
Today, Tesco released its third quarter and Christmas trading statement, revealing it to be ahead of other major supermarkets, as well as beating its own personal record of sales from 2009.
Chief Executive, Dave Lewis said: “As a team we have achieved a lot in the last 19 weeks. In the UK we delivered significant improvements in our competitive offer and this is reflected in a very strong Christmas performance which was ahead of the market.”
Other major retailers have reported loss in their trading updates for the third quarter. Debenhams reported a 5.7% fall in like-for-like sales. Marks & Spencer’s like-for-like sales were down by 2.2% over the 13 weeks leading up to Christmas. Though John Lewis was up by 1.4% from 2017 sales, the firm said that they were unsure if this would secure bonuses for its employees.
- Top 10 most valuable brands in Europe
- 2019: The year of transparency and authenticity
- The Louvre breaks new visitor record in 2018
- Read the latest issue of Business Chief Europe here
Lewis continued: “In Central Europe, the reshaping of our business continues and we are confident of the outcome we envisaged. In Asia, negotiations with suppliers are concluding satisfactorily and we can see this in our simpler, clearer, more impactful offer for customers."
Other stores to meet with an increase in like-for-like sales of the Christmas period were Waitrose, with a 0.3% increase in the seven weeks leading up to Christmas; Morrisons were up by 0.6%, and Aldi, who reported that its sales had risen by 10%.
Lewis concluded: "We have more to do everywhere but remain bang on track to deliver our plans for the year and as we enter our centenary we are in a strong position.”
Like what you see! Signup for our weekly newsletter