lakeelmoleader.com
lakeelmoleader.com January 19, 2018


Tesco books steep rise in sales over Christmas

12 January 2018, 03:22 | Frank Carlson

Tesco is festive winner reporting record Christmas sales

Overall sales were down 2.8 per cent in the 13 weeks to December 30 better than the City had feared but appreciably worse than competitors such as Tesco and Sainsbury

Catherine Shuttleworth, chief executive at retail marketing agency Savvy, said: "We think that the M&S food shopper has in part been lured away to the discounters this Christmas with their enhanced premium ranges and outstanding wines and spirits offers. As a result, full year guidance remains unchanged".

The group also reported data for the third quarter, with United Kingdom like-for-like sales up 2.3%, having increased 2.1% in the second quarter.

But an unseasonably mild October had resulted in an overall revenue decline for the quarter, while online sales also suffered, with growth slowing to 3%, from 6% in the previous quarter.

Shore Capital analyst Clive Black says tobacco sales took 0.5% off United Kingdom and Ireland like-for-like sales over six weeks.

M&S was the biggest faller on the top flight, as it pinned the blame on mild October weather for a 2.8 per cent fall in like-for-like clothing and home sales during the 13 weeks to December 30.

Tesco Ireland said that sales during the key Christmas trading period rose by 4% on a like-for-like basis compared to 2016.

Shares were down 22.8p to 301.2p, as the retailer's woes were compounded by a 0.4 per cent sales drop at its food arm.

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Britain's biggest retailer posted its total like-for-like sales growth was 1.9 per cent with food rising 3.4 per cent. Tesco's fresh food sales outperformed its rivals by nearly four per cent, the supermarket added.

The price war that has ravaged the industry (thank Aldi and Lidl for that) doesn't just effect the likes of Tesco and Morrisons and Waitrose - often seen as a more "premium" supermarket - Waitrose also complained of margin pressures.

MARKS and Spencer sales fell over the festive period, while Tesco reported record trade.

Like-for-like sales at Marks & Spencer (M&S) were underwhelming, dropping by 0.4%.

M&S said a pick up in trading over the key Christmas weeks helped make up for a weak clothing market and more hard trading in its food business, with consumer spending under pressure amid a squeeze on budgets from inflation.

"Price investment before Christmas and a strong performance from seasonal lines helped late trading", Rowe commented.



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