The Chief Executive of Tesco’s operations in Ireland remained upbeat about the chain’s prospects yesterday despite revealing that sales had weakened in recent months.
Tesco’s group results showed that like-for-like sales in Ireland had increased 1.3% over the year to 23 February 2019, with total revenues hitting €2.68bn. Whilst the year had started well for its Irish business with like-for-like increases of 3% and 3.1% in the first two quarters, sales fell 0.2% and 0.4% in the third and fourth quarters in a “competitive market”.
However, local boss Kari Daniels stressed the retailer was seeing growing volumes across all food categories with increased transactions and basket size as customers responded to store upgrades and product innovation.
“Whilst the market remains highly competitive, we are confident we can build on this solid performance in the year ahead,” she said.
Tesco had 152 stores in Ireland at the end of the year having opened two outlets. It expects to add another three stores in the coming 12-month period.
Data covering the 12 weeks to 24 March released by Kantar earlier this week showed that Tesco now holds a 21.2% share of the Irish grocery market after sales edged up 0.6% in the period.
