Tesco’s Irish business picks up

TESCO said its business in Ireland has successfully turned around, with growth having resumed and market share increasing.

The supermarket giant said the changes it made last year to cope with the “unprecedented economic contraction” have been successful. “Customers are responding positively to our improved pricing and range and significant uplifts in volumes have now more than offset the impact of sharply lower prices, resulting in positive like-for-like sales growth and a solid profit performance,” the company said.

Announcing its interim results, it said: “Ireland’s growth moderated during the second quarter, largely reflecting the shape of last year’s sales performance.”