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Tesco lifts profit guidance after strong festive sales
Evening Standard
|January 11, 2024
TESCO got one over on arch rival Sainsbury's today, lifting its profit guidance for the year after a bumper Christmas.
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Sainsbury's yesterday also reported strong festive sales, but disappointed the City by saying profits will be between the £670 million and £700 million range previously announced. Low sales in general merchandise also led to the shares taking a hit.
Today Tesco upped its own profit guidance to £2.75 billion, solidifying its position as the UK's leading grocer with by far the largest market share.
More colleagues on the shop floor and a full Christmas dinner for just £2.09 each helped Tesco to a strong festive trading period according to chief executive Ken Murphy.
Diese Geschichte stammt aus der January 11, 2024-Ausgabe von Evening Standard.
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