Like-for-Like Sales
Also written as: LFL — Like-for-Like
A measure of revenue growth from stores that have been open for at least one full comparable trading period, excluding the effect of store openings and closures.
Full Definition
Like-for-like (LFL) sales—also called comparable-store sales or same-store sales—strip out the distorting effect of new store openings, closures, and relocations to reveal the underlying sales trend of a stable estate. The comparison period is typically the equivalent period in the prior year. LFL sales are a standard performance metric in retail investor communications, management accounts, and strategy reports. Editors must ensure the term is consistently hyphenated ('like-for-like') and that any deviation from the standard 12-month comparable period is clearly disclosed.
Usage
Usage note: Always hyphenated: 'like-for-like sales'. Abbreviation LFL is acceptable after first use. Distinguish from total sales growth, which includes new-store contributions.
In Context
- "Like-for-like sales grew 4.1% in Q3, driven by higher basket value rather than increased footfall." — Quarterly trading update
- "Hyphenate 'like-for-like' in all positions and define the comparable period used on first mention." — Financial editorial style note