Food retailer Tesco said it continued to grow its market share in the Republic, supported by a 20 per cent rise in online sales.
That came following Tesco’s launch of its same-day click and collect service here.
The retailer said its market share rose 22 bps to 23.3 per cent.
The group said its like-for-like sales in the Republic rose 5.5 per cent in the 13 weeks to May 24th. Food sales were up 5.8 per cent, supported by continued investment in its fresh food range.
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Tesco said it still expected to report adjusted operating profit of between £2.7 billion (€3.17 billion) and £3 billion in the year ending February 2026, down from the £3.13 billion achieved in 2024/25.
The group had said in April it expected profit to fall in its 2025/26 year as it set aside cash to deal with a step up in the “competitive intensity” of the UK grocery market – a reference to a pledge of sustained price cuts from Asda, Britain’s third biggest supermarket group, which has been losing market share.
“The market remains intensely competitive,” Tesco’s Irish group chief executive Ken Murphy said on Thursday.
He said inflation at Tesco was running at below the industry rate – which jumped to 4.1 per cent in May, according to market researcher Kantar.
Most analysts think Tesco’s strategy of matching the prices of discounter Aldi on hundreds of key items, together with heavy promotion of its Clubcard loyalty scheme, which provides lower prices for members, is working well.
Tesco is also becoming increasingly digital, stepping up personalised engagement with customers and developing growth avenues such as its online Marketplace platform and retail media.
“ (Tesco) appears to be in a better position than many of its peers,” John Moore, wealth manager at RBC Brewin Dolphin, said. – Additional reporting: Reuters
