Meaning of “like-for-like” in the English Dictionary

"like-for-like" in Business English

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like-for-likeadjective [ before noun ]

uk us abbreviation LFL UK

ACCOUNTING like-for-like figures compare sales, financial results, etc. in one period with those for the previous period, taking into account exactly the same number of stores, businesses, activities, etc. with no new ones added:

Sainsbury's like-for-like sales in the second quarter were up by 1.2% on the same period last year.

INSURANCE used for describing something of the same value, quality, etc. that replaces a lost, stolen, or damaged possession:

We will provide you with a like-for-like vehicle because we understand that if you are used to driving a high-performance car, you will not want to take a step downwards.

(Definition of “like-for-like” from the Cambridge Business English Dictionary © Cambridge University Press)