Tesco PLC (LSE:TSCO) held its full-year guidance steady despite what it called an "intensely competitive" grocery market, as it turned in a first-quarter update that showed stronger like-for-like sales growth than the past year.
LFL sales were up 4.6% to £16.4 billion for the 13 weeks to 24 May 2025, led by 5.5% growth in Ireland and 5.1% growth for the rest of the UK. For the 2024 financial year, LFL sales had grown 3.1%.
Wholesale business Booker saw 2.0% growth, despite tobacco headwinds, bouncing back from a negative prior year.
Chief executive Ken Murphy hailed a 44 basis points increase in UK market share to 28% and online sales jumping 11.5%, with continued strength across fresh food and clothing.
"We are pleased with our performance across the first quarter," he said. "The market remains intensely competitive, and we are committed to ensuring customers get the best value in the market by shopping at Tesco."
Guidance remains unchanged, with operating profit seen between £2.7 billion and £3.0 billion for the full year.