Tesco has reported its strongest Christmas trading performance for three years, with sales growth topping analysts’ expectations.
The supermarket giant said like-for-like sales, excluding fuel and adjusted for VAT, grew 4.9 per cent in the six weeks to January 9.
The impressive performance was driven by a 16 per cent rise in sales of its premium ‘Finest’ products and its double points Clubcard loyalty scheme, which Tesco said contributed 0.7 per cent to the overall sales growth.
Customers were also lured over the festive period by the £100 million in extra loyalty vouchers that were handed out to Clubcard holders before Christmas. Tesco said around £40 million worth of the vouchers were redeemed.
It also revealed that 35 per cent more bottles of Champagne were sold than during the same six-week period last year.
Tesco’s non-food sales were boosted by strong performances in clothing, electrical goods and toys, while the chain’ online sales grew by almost 20 per cent in the six weeks.
Chief executive Sir Terry Leahy said: “We’ve delivered a very strong performance over the Christmas and New Year period.”
“It was a great Christmas for Tesco customers with an excellent seasonal range in store and online.”
Market researcher Nielsen said Christmas 2009 was “robust” for supermarkets, driven by an increase in promotions.
