like-for-like

like-for-like ˌlike-for-ˈlike adjective [only before a noun]

1. ACCOUNTING like-for-like figures have been changed where necessary so that a correct comparison can be made with a previous period:

• There was no real growth in like-for-like sales, with the new store space excluded.

2. INSURANCE if something is replaced on a like-for-like basis, it is replaced with something that is the same:

• We should ensure that we are replacing on a like-for-like basis and not giving the insured a superior item containing advanced features.

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like-for-like UK US adjective [before noun] (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.