CEO of Tesco - Customers are buying more things, more often, at Tesco

26 June 2015

First Quarter Trading Statement

Tesco PLC’s First Quarter Trading Statement 2015/16 was announced today at7.00am. To view the full announcement, please go to: www.tescoplc.com/1Q2015.

Highlights

- UK like-for-like sales performance improved to (1.3)% despite significant deflation and the impact of reduced couponing

- UK like-for-like volumes up 1.4%; transactions up 1.3%; 180,000 more customers shopping with us*

- Like-for-like sales growth in Central Europe and Turkey; Central European restructure largely complete

- Some improvement in performance in Asia, in challenging market conditions

- Short-term volatility remains; transformation programme progressing


Dave Lewis – Chief Executive

“We set out to serve our customers a little better every day and the improvements we are making are starting to have an effect.  We are fixing the fundamentals of shopping to win back customers and relying less on short-term couponing.  Customers are experiencing better service, better availability and lower, more stable prices and are buying more things, more often, at Tesco.

These improvements have come during the restructuring of our office and store management teams, which testifies to the focus, skill and commitment of colleagues across the business.  We have also seen an improved performance in our international markets, as we continue to focus on serving customers better.

Whilst the market is still challenging and volatility is likely to remain a feature of short-term performance, these first quarter results represent another step in the right direction.”

To view the full announcement, please go to: www.tescoplc.com/1Q2015.

Contacts

Investor Relations:
Chris Griffith: 01992 644 800

Press:
Tom Hoskin: 01992 644 645
Brunswick: 0207 404 5959

We are a team of over 500,000 people in 12 markets dedicated to providing the most compelling offer to our customers.