like-for-like Meaning in the Cambridge English Dictionary
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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, ​financialresults, 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 ​damagedpossession: 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 ​stepdownwards.
(Definition of like-for-like from the Cambridge Business English Dictionary © Cambridge University Press)
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