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Tesco Plc (TSCO) - Q3 and Christmas Trading Statement 2023/24.

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idpickering
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Tesco Plc (TSCO) - Q3 and Christmas Trading Statement 2023/24.

#639554

Postby idpickering » January 11th, 2024, 7:09 am

Performance highlights.

UK: Continuing to outperform the market, with stronger than expected volume growth

Strong market share performance, up +15bps to 27.9% in the four weeks to Christmas1, with net switching gains for ten consecutive periods2

Six-week Christmas like-for-like sales increase of 6.8% includes growth of 9.2% in the four weeks to Christmas

Consistent volume growth across the period; particular strength in fresh food supported by market-leading availability

Now consistently the cheapest full-line grocer for over 14 months3; continuing to inflate less than all key competitors

Prices cut on nearly 2,700 products with savings of c.10%, alongside unrivalled value proposition of Aldi Price Match, Low Everyday Prices & Clubcard Prices; further 150 Price Cuts and double Clubcard points announced this week

Continued investment in innovation and quality with over 550 new and improved festive products, including the launch of our 'Finest Chef's Collection' festive food to order range; quality perception up +91bps YoY vs market decline4; won 35 Christmas food awards

Total Finest sales up 16.7% including a record Christmas sales week; continued net switching gains from premium retailers, now for 17 consecutive periods5

Clubcard sales penetration up further 3ppts YoY to 83%; issued 83m digital personalised coupons and launched a personalised 'Shop & Save' campaign rewarding customers with additional savings over Christmas

Online sales up 11.5%, supported by strong execution, with orders, volumes, pick rates and availability all up YoY; delivered nearly half a million Whoosh orders in lead up to Christmas

Over two million meals donated to foodbanks by customers and colleagues through our Winter Food Collection


https://www.investegate.co.uk/announcem ... 4-/7984398

Also posted on Company News here; viewtopic.php?p=639553#p639553

I hold TSCO in my HYP, and know others hereabouts do too, so this may be of interest here.

Ian.

daveh
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Re: Tesco Plc (TSCO) - Q3 and Christmas Trading Statement 2023/24.

#639570

Postby daveh » January 11th, 2024, 9:02 am

That's three trading updates from the supermarkets or similar. Sainsbury, Tesco and M&S. All three have reported strong like for like growth and 2 have mentioned outperforming the market. So who is doing badly?

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Re: Tesco Plc (TSCO) - Q3 and Christmas Trading Statement 2023/24.

#639609

Postby vand » January 11th, 2024, 11:18 am

daveh wrote:That's three trading updates from the supermarkets or similar. Sainsbury, Tesco and M&S. All three have reported strong like for like growth and 2 have mentioned outperforming the market. So who is doing badly?


I think it's a case of the market front-running what they already knew were going to good trading updates. Not really difficult, that one - when money's pretty tight people tend to do more of the business at the supermarkets.

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Re: Tesco Plc (TSCO) - Q3 and Christmas Trading Statement 2023/24.

#639619

Postby MDW1954 » January 11th, 2024, 11:46 am

daveh wrote:That's three trading updates from the supermarkets or similar. Sainsbury, Tesco and M&S. All three have reported strong like for like growth and 2 have mentioned outperforming the market. So who is doing badly?


Asda, perhaps. I don't know if the Issa brothers issue trading updates. A Booths that I go to in Cumbria, for time to time, seemed busy.

MDW1954


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