Tesco Ireland sees sales jump by 13%
Print20 April 2021
Sales at Tesco’s Irish business reached €2.67 billion for the 52 weeks ending 27 February, an increase of 13% versus the prior year.
Covid lockdowns also saw like-for-like sales increase by 14%.
The grocery giant increased its capacity for online sales by more than 60% in the Republic of Ireland last year as a result of a spike in demand from shoppers, which saw online sales grow from 6% to 9%.
With 151 stores across the Republic, Tesco said it had achieved “particularly strong growth” in its large stores.
Meanwhile, in its core British market, Tesco reported a 7.7% lift in like-for-like sales and an increase of 6.3% in group like-for-like sales.
Nevertheless, operating profit fell 14.7% as a result of increased costs which stemmed from adapting to the pandemic.
“While the pandemic is not yet over, we’re well-placed to build on the momentum in our business,” said chief executive Ken Murphy, who praised the business’s incredible strength and agility.
Tesco has also said that it expects to see a strong recovery in profitability and retail free cash flow as most of the costs which arose as a result of adapting to the pandemic would not be repeated.
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