UK retailer Tesco has released its Q3 and Christmas Trading Statement for 2024/25, revealing that it experienced volume growth ahead of the market.
Q3 covered the 13 weeks to 23rd November 2024 and Christmas covered the six weeks to 4th January 2025.
The supermarket said it experienced continued volume growth ahead of the market; it’s value market share was up 75 basis points to 28.5% to make 19 consecutive periods of share gains.
Food sales were up 4.7%, primarily driven by volume growth across the period, with a “particularly strong” contribution from fresh food. It’s premium label Finest range experienced sales up by 15.5%, while Tesco said its quality perception was up 100 basis points to grow ahead of the market.
Online sales were up 10.8% with market share up by 122 basis points, which Tesco said was “strong growth”.
Outlook
Tesco said it will continue to expect to deliver retail adjusted operating profit for the 2024/25 financial year of around £2.9 billion, in line with the upgraded guidance given at its interim results.
Ken Murphy, chief executive of Tesco, commented: “I am very proud of the entire Tesco team and the way we served customers this Christmas. We invested to bring the best value, quality and service to everyone, no matter how or where they shopped with us. As a result, we delivered our biggest ever Christmas, with continued market share growth and switching gains.
“Our strong performance reflects the investments we have made, positioning Tesco as the UK’s cheapest full-line grocer for over two years, improving quality across all our ranges, with more than half of this year’s Christmas range new or improved, and providing the best experience for our customers in-store and online, supported by an extra 28,000 colleagues over the Christmas period.
“I would like to say a huge thank you to everyone at Tesco for their hard work in delivering a great Christmas. As we start 2025, we look forward to continuing to offer our customers the very best products and experience at Tesco.”
