Tesco sales accelerate despite ‘intensely competitive' grocery market
The company said group sales grew by 4.6%, on a like-for-like basis, to £16.4 billion for the 13 weeks to May 24.
This was buoyed by growing demand for own-brand and premium products, with sales of its Finest range up 18% year-on-year.
Tesco chief executive Ken Murphy (Ben Stevens/Parsons Media/PA)
This was supported by the launch of 350 new own-brand products during the quarter, as shoppers continue to turn more frequently to supermarket own-brands over branded rivals.
As a whole, the business saw food sales grow by 5.9%, while non-food sales, excluding toys, rose by 6.2% amid a boost from new ranges and warmer weather.
Tesco stressed that growth has come as it maintained its 'strong price positioning' relative to its rivals, continuing to invest in its Aldi Price Match scheme and around 9,000 Clubcard price deals each week on its loyalty scheme.
It comes amid continued pressure on pricing from rival supermarkets, with Asda slashing prices this year in a bid to help turn around its fortunes.
In April, Tesco said it expects to make as much as £400 million less in profit this financial year due to heightened competition.
Ken Murphy, chief executive of Tesco, said: 'We are pleased with our performance across the first quarter.
'Our continued commitment to delivering great value, quality and service for our customers has contributed to like-for-like sales growth across all parts of the group.
'The market remains intensely competitive, and we are committed to ensuring customers get the best value in the market by shopping at Tesco.'
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Western Telegraph
6 minutes ago
- Western Telegraph
Government advises against all travel to Israel amid Iran conflict
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The Sun
23 minutes ago
- The Sun
How to save £5k even if you're on a low income earning £25k a year – it's all about the 50-30-20 rule
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Rajan says most people are surprised by how much they can save, but you shouldn't be put off if you can only afford to set aside £5 or £10 a month for now. 'That might not sound like a huge amount but that money will build, particularly if it's earning interest,' he says. 'It's really important just to take that first step and then see what you can do.' Reduce your spending If you want to give your savings an extra boost, you should look at where you can cut costs. Switch bank accounts for free perks Many people saw their bills rise in April but there are some ways you can reduce the costs of essentials. For example, you should use price comparison websites to look for better deals on your mobile phone, broadband and energy bills. Of course you'll need to take into account any exit fees if you currently have a contract with a provider. 'A lot of these organisations are relying on you not taking any action and just simply renewing. 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Scottish Sun
2 hours ago
- Scottish Sun
Aldi shoppers devastated after discounter axes ‘addictive' crisp flavour
Has your favourite product vanished from shelves? We'd love to hear from you - email us on money@ GONE GONE Aldi shoppers devastated after discounter axes 'addictive' crisp flavour Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) ALDI has axed a popular crisp flavour leaving shoppers devastated. Specially Selected Prawn Cocktail Crisps have now permanently disappeared from the discounter's shelves. Sign up for Scottish Sun newsletter Sign up 1 Aldi prawn cocktail crisps have been discontinued The savoury snack was made with British potatoes and part of its premium food range. A packet cost around £1 and was only sold in Aldi. Eagle-eyed customers took to social media to find out what happened to the delight. Writing on X, one customer said: "What's happened to the prawn cocktail crisps? Bring them back please!." A spokesperson confirmed in a response to the customer that the crisp flavour was no more. They said: "We have discontinued this product. Sorry for any disappointment." An Aldi spokesperson also told The Sun: 'We continually review our range of products to make sure we're meeting the needs of Aldi shoppers. "We understand that some customers were disappointed to see the Specially Selected Prawn Cocktail Crisps go. They added: "But the Snackrite Prawn Cocktail Crisps are a great alternative in our stores that continue to prove really popular with shoppers.' The move will come as a blow to shoppers who have described them as "amazing" and "addictive". Aldi's $4.99 Gardenline Plant Supports: Affordable Spring Gardening Must-Have! Another fan said the crisps had the "most flavour" of any on the sad. While a third said: "I'm not exaggerating to say they were the best I'd ever tasted (in any flavour). We need people to demand a return." It is not the first time Aldi has axed a product customers love. Aldi quietly removed the Specially Selected Caramel Layered Yogurt from its shelves. Shoppers only discovered the yogurt was discontinued after failing to find it in their local shop. The German discounter has dropped Deli Smoked Pork Sausage and Deli Smoked Reduced Fat Pork Sausage 160g packs from many of its shelves. OTHER DISCONTINUED PRODUCTS Aldi is not the only grocer which has shaken up the products it sells on shelves. Tesco eight packs of beef sausages are no more after it is understood the supermarket stopped stocking them. The meaty item is also showing as "currently out of stock" on the chain's website. Customers can still buy six packs of Tesco Finest Aberdeen Angus Beef Sausages for £3 and four packs of Tesco Finest Pork and Beef smoked sausages for £4. Elsewhere, Asda's store brand Creamy Peppercorn Sauce has now permanently disappeared from supermarket shelves. The sauce, which is usually served with steak, was a fan favourite with shoppers.
