From Longman Business Dictionarylike-for-likeˌlike-for-ˈlike adjective [only before noun]1ACCOUNTING like-for-like figures have been changed where necessary so that a correct comparison can be made with a previous periodThere was no real growth in like-for-like sales, with the new store space excluded.2INSURANCE if something is replaced on a like-for-like basis, it is replaced with something that is the sameWe should ensure that we are replacing on a like-for-like basis and not giving the insured a superior item containing advanced features.
