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What does like-for-like mean?

Looking for the meaning or definition of the word like-for-like? Here's what it means.

Adjective
  1. Replacing one thing with another of the same type.
  2. (of sales) comparable to the same period in a previous year, at outlets that existed at that period
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Examples
The soccer coach made a like-for-like substitution, replacing the injured defender with another defensive player.
A like-for-like, three-year comparison between preparatory and state schools is not possible.
Immigrants are not like-for-like substitutes.
There was evidence of healthy like-for-like growth in both revenues and gross profit.
This argument was rejected for the reasons as set out in recital 38 of the provisional Regulation as the price should be compared on a like-for-like basis.
Every One product funds a like-for-like equivalent, for example, the One Supersofty toilet tissue funds hygiene and sanitation projects in Africa.

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