Tesco Ireland records 1.9% sales growth
Tesco Ireland reports 1.9% and announces plans to spend €70million in modernising stores this year and in opening six new Express or Metro stores.
Print17 April 2013
Tesco Ireland has recorded increased sales of €3.15 bn in the year to 24 February 2013, compared with sales of €3.09 bn in the previous year.
This shows a growth of 1.9%. However like-for-like sales declined marginally by 0.3%.
Tony Keohane, chief executive of Tesco Ireland said the company was "pleased to have recorded a year of growth" in a market that continues to be "very challenging".
"Customers are spending less and retail competition has become even more intense," the chief executive commented. "Customers are demanding better from retailers to meet their family budgets and we are very pleased with how they have responded to what we offer them".
"Our stores have adapted well to what customers want in terms of family shopping, including more choice at keener prices, better offers and better value for money. We expect customers will continue to demand better value as household incomes remain stretched".
"Our Home Grown in Ireland programme, highlighting our extensive support for Irish and local produce, has been well received. We plan to expand on this in the coming year".
"We are continuing to invest in Ireland and will be spending €70million in modernising our stores this year and in opening six new Express or Metro stores. Total investment last year was €59million.
Other developments during the past year, include the fact that 15 Irish suppliers have completed the joint Tesco/Bord Bia Supplier Development Programme, which is helping them to grow through increased sales to Tesco in Ireland and in Britain. Six of the suppliers are now exporting their products, while nine others are seeing sales growth with us in Ireland. A total of 71 new Irish suppliers have begun supplying Tesco since 2011.
Tesco also opened five new stores last year (including four Express and one Metro outlet, creating 94 new jobs. Throughout the year, 28 other stores were remodelled or upgraded.
The supermarket also reports online grocery shopping grew by 16% during the year, while the first "click and collect" facility was opened at Clarehall store. Customer Wi-Fi was installed at 109 stores.
What’s more, almost €1million was raised to support the Charity of the Year, Aware, facilitating a teenage awareness programme reaching 30,000 schoolgoers.
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