British firm Tesco's retail sales grow 3.4% in Q1 FY25

14 Jun '24

1 min read

British firm Tesco's retail sales grow 3.4% in Q1 FY25

Pic: Pawel Pajor - stock.adobe.com

Insights

British retailer Tesco Plc reported a 3.4 per cent increase in like-for-like retail sales to £15.305 billion (~$19.44 billion) in Q1 FY25, with online sales up 8.9 per cent.
Sales in the UK and ROI grew 3.6 per cent to £14.330 billion, with UK sales rising 4.6 per cent and ROI sales up 4.4 per cent.
Central Europe saw a 0.6 per cent increase to £975 million.

British retailer Tesco Plc has reported a 3.4 per cent year-on-year (YoY) increase in like-for-like retail sales to £15.305 billion (approximately $19.44 billion) in the first quarter of fiscal 2025. The growth spans all channels, with a notable 8.9 per cent rise in online sales.

In the UK and Republic of Ireland (ROI), sales reached £14.330 billion, marking a 3.6 per cent increase. Within this segment, UK sales grew by 4.6 per cent to £11.368 billion, while ROI sales increased by 4.4 per cent to £731 million. In Central Europe, sales rose to £975 million, showing a modest 0.6 per cent increase.

For the entire FY25, Tesco expects to achieve a retail adjusted operating profit of at least £2.8 billion, the company said in a press release.

“We’ve continued to build momentum in the business, with strong volume growth across the UK, Republic of Ireland and Central Europe supported by easing inflation. Our market share reflects this, growing more than at any other time in the past two years, with customers switching to us from other retailers, shopping with us more often and with more in their baskets,” said Ken Murphy, chief executive.

Fibre2Fashion News Desk (DP)

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