It stands for like for like; in retail business, it refers to a comparison between two activities, results, indicators, etc., using the same measures or factors such as time horizon. For example, like-for-like figures compare sales volumes, financial results, etc. attained in one period with those for the previous period, taking into consideration the same defining factors (e.g., exactly the same number of stores for the same period of time).

Like-for-like sales are an adjusted growth metric that compares revenues generated from stores or products based on a set of common factors (same characteristics) while ruling out any distinct factors that could not enable any meaningful comparison. More specifically, like-for-like sales provides an analytical basis to identify a company’s products, units, or stores that support and contribute to its growth and which do not. It also excludes external or uncommon factors that could distort the numbers, such as expansion by means of acquisition.