Tesco has reported a modest increase in sales of 2.5% over Christmas.
The slight rise is in line with forecasts but is less than rival Sainsbury’s which posted growth of 4.5% last week.
The figures, which cover like-for-like sales excluding fuel for the seven weeks leading to 10 January, were ‘probably the weakest since the last recession’, said .Tesco’s finance director Andrew Higginson.
Tesco online and non-food
Tesco has introduced discount ranges to compete with discount supermarkets such as Aldi and Lidl. It said that these new ranges had eaten into UK sales growth but it hoped the extra custom driven by them would offset the blow to sales.
It wasn’t all bad news though – online sales were up 18% in the run up to Christmas, at £273m over seven weeks. Sales of laptops and televisions were described as ‘particularly pleasing’.
Tesco’s non food sales also strengthened and they gained market share in electricals, clothing and entertainment.
Tesco follows a number of retailers reporting tough conditions. Land of Leather was yesterday forced to call in the administrators.
Land of Leather said that it has taken ‘all the necessary steps’ to protect consumers deposits.
If you have bought goods from a company that goes bust, provided you used a credit card, you should be able to claim the money back. See the Which? guide to the Consumer Credit Act for more information.
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