Tesco’s trading performance for the Q3 plus Christmas (19 weeks ended 7 January 2023) was broadly in line with our expectations. The Group’s lfl sales grew 6.4% during the period, with all retail segments clocking robust momentum. The management has confirmed the annual profit target: operating profit for the retail business at £2.4-2.5bn, £120-160m for the banking operations and group FCF of at least £1.8bn. Despite announcing a good start to 2023, Tesco’s FY23/24 earnings are likely to remain ....
13 Jan 2023
Strong Christmas underpins Q3 performance; testing times ahead!
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Strong Christmas underpins Q3 performance; testing times ahead!
Tesco PLC (TSCO:LON) | 292 -4.7 (-0.5%) | Mkt Cap: 20,547m
- Published:
13 Jan 2023 -
Author:
Nishant Choudhary -
Pages:
3
Tesco’s trading performance for the Q3 plus Christmas (19 weeks ended 7 January 2023) was broadly in line with our expectations. The Group’s lfl sales grew 6.4% during the period, with all retail segments clocking robust momentum. The management has confirmed the annual profit target: operating profit for the retail business at £2.4-2.5bn, £120-160m for the banking operations and group FCF of at least £1.8bn. Despite announcing a good start to 2023, Tesco’s FY23/24 earnings are likely to remain ....