UK Market: Tesco next to enjoy end-of-year growth
Tesco CEO Dave Lewis's strategy to rescue the once-great grocery retailer appears to be working
Print14 January 2016
This week we’ve already learned that Sainsbury’s and Morrison’s in the UK posted better-than-expected results for the Christmas shopping period. It should come as no surprise then, that Tesco’s trading results show growth also.
The retail giant’s Christmas period (six weeks to January 9th 2016) saw group like-for-like sales jump by 2.1%, while in the UK alone the company’s sales increased by 1.3% on the same period the previous year.
Unlike the other retailers, however, this bump is not entirely unexpected after CEO Dave Lewis spent much of last year implenenting plans to steer the good ship Tesco back to calmer waters following the late unpleasantness of scandals, resignations and loss of customer loyalty.
“Our Christmas performance was strong,” said Lewis upon the release of the figures, “benefitting from lower prices on an outstanding range of products. Our customer service improved materially and our colleagues went the extra mile.
“Put simply,” he said, “we put the customers at the heart of everything we did and they responded by buying more of what they needed at Tesco.
“We are continuing to focus our efforts on serving our customers a little better every day,” Lewis added, “and there is plenty more to do. But we’re making good progress and are trading in line with profit expectations for the full year.”
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