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UK sales inch up in Q1 at Tesco while Booker figures leap

Tesco has published its latest sales performance (exc. VAT, exc. fuel) for the 13 weeks ended 28 May 2022. The three-year like-for-like (LFL) sales growth represents a comparison versus pre-pandemic performance in FY19/20.

The UK sales stood at £9,879m, up 1.5% in compariosn to the previous year
and Booker was £2,105m up by 19.4% .

Ongoing support for customers in challenging times & further improvement in market share
• Market share growth of +37bps3, outperforming on both value and volume
• Overall distribution of Aldi Price Match and Low Everyday Prices products up c.19% YoY
• Maintaining largest improvement in quality & value perception of any food retailer in the market vs pre-pandemic
• YoY performance impacted by annualisation of lockdown last year, most notably in GM, clothing and online, partially offset by inflation

Booker: Strong performance, particularly in Catering, reflects benefit of lapping lockdown and underlying business growth
• Catering LFL sales increased by +57.4%; added over 13,000 net new customers
• Retail LFL sales increased by +2.3%

Ken Murphy, Chief Executive, said, 'Whilst the market environment remains incredibly challenging, our laser focus on value, as well as the daily dedication and hard work of our colleagues, has helped us to outperform the market.

'Our material and ongoing investment in the powerful combination of Aldi Price Match, Low Everyday Prices and Clubcard Prices is removing the need for customers to shop elsewhere.

'Although difficult to separate from the significant impact of lapping last year’s lockdowns, we are seeing some early indications of changing customer behaviour as a result of the inflationary environment.

'Customers are facing unprecedented increases in the cost of living and it is therefore even more important that we work with our supplier partners to mitigate as much inflation as possible. ”