New shops key to Tesco’s growth in a shrinking sector

The opening of nine shops across Ireland was the engine for Tesco Ireland’s growth last year. The company managed to increase its market share and improve its sales despite a shrinking groceries sector.

Tesco reported overall growth of 2.8%, with total sales recorded in Ireland reaching €3.07bn. When sales from Tesco’s nine new Irish stores are stripped out, the company’s like-for-like sales were down by 2.4%.

Chief executive Tony Keohane said: “We are pleased with the overall position and particularly that we have outperformed the market in very challenging conditions.”