Tesco Ireland sees sales grow by 7.3% in latest quarter

Sales at Tesco Ireland increased by 7.3 per cent to £714 million (€834m) in the last quarter, the retailer has said.

In a trading update for the 13 weeks ended May 27th, Tesco said its Irish arm enjoyed a strong performance with continued growth in market share year-on-year. There was “strong growth” of 9.4 per cent in food, with the recently acquired Joyce’s chain of supermarkets helping to boost its market share by 52 basis points. It added that it further strengthened its price index against limited range discounters.

Tesco chief executive Ken Murphy said: “We are pleased with our performance in the first quarter, underpinned by our relentless focus on value. Customers continue to recognise our leading combination of great value and quality in every part of their basket – from essentials covered by our Aldi price match through to our growing Finest range.”

Mr Murphy added that the retailer was “very conscious” that many of its customers continue to face “significant cost-of-living pressures”.

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“We have led the way in cutting prices on everyday essential items. There are encouraging early signs that inflation is starting to ease across the market, and we will keep working tirelessly to ensure customers receive the best possible value at Tesco.

“The ongoing effort and contribution from our colleagues is evident in the strength of our offer and I want to thank the entire team for everything they do. By focusing on our customers we have delivered a strong start to the year. We are well-positioned for the months ahead, and are reiterating our guidance for the full year.”