Tesco 3Q Sales Rose, Boosted by Strong Christmas Demand
13 Janeiro 2022 - 4:57AM
Dow Jones News
By Sabela Ojea
Tesco PLC said Thursday that it has had stronger-than-expected
sales to date following a strong third quarter of fiscal 2022 and
robust during Christmas, and that it now expects to post a retail
operating profit for the full fiscal year slightly above its
previous top-end guidance.
The U.K.'s biggest grocer by market share said that
like-for-like retail sales rose 2.6% on year in the 19 weeks ended
Jan. 8, rising 2.4% in the third quarter and 3.2% in the Christmas
period. The company's retail operating profit guidance is in the
range of 2.5 billion to 2.6 billion pounds ($3.56 billion-$3.43
billion).
In the U.K., Tesco's like-for-like sales rose 0.2% in the
19-week period, rising 4.9% in Central Europe. During the Christmas
period in particular, sales rose 0.3% during Christmas in the U.K.,
and 8.1% in Central Europe.
"Despite growing cost pressures and supply chain challenges in
the industry, we continued to invest to protect availability,
doubled down on our commitment to deliver great value and offered
our strongest ever festive range...As a result, we outperformed the
market, growing market share and strengthening our value position,"
Chief Executive Ken Murphy said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
January 13, 2022 02:42 ET (07:42 GMT)
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