Tesco saw its group retail sales edge up 2% to £13.57 billion in the 13 weeks to 28 May, although sales in the UK fell following “early signs” of changing customer behaviour due to the cost of living crisis.
Sales were up 1.5% year-on-year in the UK and Ireland combined, while revenue in the region increased by 9.7% compared to pre-pandemic levels three years ago. However, sales in the UK edged down 1.5% after the supermarket’s year-on-year performance was impacted by annualisation of lockdown last year, particularly in general merchandise, clothing and online.
Meanwhile, sales in Tesco’s central Europe business rose by 9% following continued market share growth.
Tesco said its Booker wholesale business put in a strong performance with retail like-for-likes rising by 2.3%.
