NEWS

Sainsbury’s refutes Tesco’s pre-Christmas figures

Published on: 11th January 2013

Tesco has announced that its UK sales rose 1.8% year-on-year in the six weeks to January 5, however Sainsbury’s has refuted these figures starting a war of words between the two retailers.

Tesco indicated its sales increase is 1.8% on a like-for-like basis that strips out new store openings, petrol sales and VAT sales tax.

The Christmas trading figures were better than Tesco’s performance over the same six-week period across 2011-2012, when it posted a like-for-like sales decline of 2.3% in the UK.

However, Sainsbury’s has refuted the figures released by Tesco claiming they are not IFRIC compliant, and that they include Clubcard point sales; even without them, Tesco still recorded a 1.4% increase in like-for-like sales.

Also, in the case of the figures released by Sainsbury’s the results quoted are for the 14 weeks from 30 September to 5 January, a whole quarter’s worth of sales. For Tesco, the results were just for the busy six week period leading up to and over Xmas.

Outside of the UK, Tesco said like-for-like sales in Europe fell 3.6%, and 2.1% in the US. Like-for-like sales in Asia fell 0.2%.

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