Tesco shrugged off the “beast from the east” to record first quarter sales growth of 3.5 per cent in Britain and Ireland thanks to their Booker acquisition.
It was a result that boss Dave Lewis said proved their plans “are on track” after ten consecutive periods of growth. Booker’s sales, included in their financial report for the first time, jumped 14.3 per cent following the deal’s consolidation on 5 March this year.
In the UK alone, like-for-like sales were up 2.1 per cent, while the Tesco group, which includes Asia and Europe enjoyed a 1.8 per cent rise, despite the latter continents suffering falling sales figures.
Lewis said: “Our growth plans are on track and we are pleased with the momentum in the business. We remain well-placed to serve our customers better and deliver on our medium-term financial ambitions.
“We are delighted with initial progress on Booker, and are focused on delivering the synergy benefits that our merger brings.”
The company said sales got off to a rocky start following freezing weather in March, which hit the number of trips to their stores, and forcing them to close all shops for one day in Ireland. Despite this, performance improved throughout the period.
Groceries performed strongly with transactions and basket size increasing year-on-year, citing their online Spoon Guru Lifestyle & Dietary search filters as key innovation driving healthier eating.
The company also said their investment in price cuts in their fresh food brands was evidence of customer orientated service.
