Tesco sales in Ireland rise 5.5% during latest quarter

Retailor said it had grown its market share in Ireland to 23.3%, as food sales grew 5.8%

Tesco chief executive Ken Murphy: 'Pleased' with market share gains.

Tesco has seen its sales in Ireland rise by 5.5% to more than £770m (€903.1m) during the first quarter of its latest financial year, driven by strong food sales and “continued investment in our fresh proposition”.

This comes as the wider Tesco Group, across the UK and Ireland, reported sales of just under £16.4 in the three months to May 24 — a 4.6% increase year-on-year. The bulk of its sales were made in the UK, which accounted for €15.36bn in sales, up 4.7%.

Sales in central Europe accounted for just under €1bn.

Shares in the company rose by nearly 3% on Thursday following the publication of the results.

In the Republic of Ireland, the company said it had grown its market share to 23.3%, as food sales grew 5.8%, with volume growth supported by “continued investment in our fresh proposition”.

“Growth across all channels, led by online with sales up 19.8%, which continues to benefit from the launch of same-day click and collect and home delivery last year,” Tesco said.

In the UK, the company’s market share during the quarter stood at 28% with food sales up +5.9%.

Speaking on the company’s first-quarter results, chief executive Ken Murphy said they were “pleased” with their performance so far, with market share gains being made in the UK and Ireland.

“In the UK we have continued to see market share gains and increased customer satisfaction across a wide range of measures, a reflection of our powerful value proposition, strong availability and focus on product quality and innovation. 

“We introduced over 350 new own-brand products across the quarter, including the launch of our exciting summer food range, and Finest is going from strength to strength, with sales up 18% year-on-year,” he said.

The company said it continued to expect adjusted operating profit of between £2.7bn and £3bn for the current financial year. During its 2024/2025 financial year, it recorded an adjusted operating profit of €3.13bn.