Tesco has reported another rise in sales today, putting the retail chain on target to hit its full-year profit projection.
“We have made further strong progress in the first half, with positive like-for-like sales growth across all parts of the Group as we re-invest in our customer offer whilst rebuilding profitability in a sustainable way,” said chief executive, Dave Lewis (pictured above), announcing a 1% growth in like-for-like sales at Group level and a 0.6% increase for its UK business.
“Whilst the market is uncertain, we have made significant progress against the priorities we set out two years ago, stabilising the business and positioning us well for the future.”
The chain’s latest figures also show that the value of its food sales in the UK grew for the first time since 2013 in the second quarter and “outperformed the market” on volume growth in all food categories.
“The seven exclusive fresh food brands we launched in March 2016 led to a sales volume growth outperformance of the market in produce and meat of 6%,” said Tesco, adding that these brands continue to be cheaper, on average, than comparable lines in the rest of the market.