Tesco Ireland publishes interim results for 2016/2017
Continued investment in keeping prices down, improvements in fresh produce and other adaptations have led to improved sales and service
5 October 2016
Tesco Ireland has reported an improved like-for-like sales performance of 0.2% and revenues of €1.2bn (ex. revenue, inc. fuel) in the first half of the year. The slight improvement was supported by continued investment in reducing prices, improvements in fresh produce and better customer service. The result, according to the company, is an improved shopping experience for customers.
Tesco’s improvements over the past year have included launching a store refresh programme, opening a new customer care centre in Waterford and by increasing staff levels during busy periods. The stores’ Grocery Home Shopping business has also seen strong growth, with more than 87% population coverage.
In its interim report, Tesco also said that stronger relationships with suppliers is a key pillar in improving overall trust in its brand. The Future Farmer Foundation was launched, supporting new and young farmers at the beginning of their careers, and Tesco has also implemented the new Grocery Regulations.
Tesco says that its supplier satisfaction increased by 8% in this period.
Andrew Yaxley, Tesco Ireland CEO said the company is proud to support local communities across Ireland, and to make a real difference. “Through the Tesco Community Fund we have donated nearly €2 million to over 5,000 good causes to date,” Yaxley said, “and our surplus food donations programme in partnership with FoodCloud has enabled us to redistribute over 1.9 million meals. In less than two years, we’ve raised €1.9million and counting for our charity partner Temple Street.”