Tesco posted a strong performance in Q4 and FY18/19. Key takeaways were a reduction in the lfl decline in Asia, robust sales momentum in the UK, and a strong surge in profitability across all geographies. Retail FCF was a bit softer due to WCR outflow, but it is a non-structural issue. Next stock price trigger could be the Capital Markets Day, scheduled on 18 June 2019. We will increase our estimates, along with a possible upgrade in the stock recommendation.
11 Apr 2019
Strong FY results
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Strong FY results
Tesco PLC (TSCO:LON) | 295 5.6 0.7% | Mkt Cap: 20,733m
- Published:
11 Apr 2019 -
Author:
Nishant Choudhary -
Pages:
4
Tesco posted a strong performance in Q4 and FY18/19. Key takeaways were a reduction in the lfl decline in Asia, robust sales momentum in the UK, and a strong surge in profitability across all geographies. Retail FCF was a bit softer due to WCR outflow, but it is a non-structural issue. Next stock price trigger could be the Capital Markets Day, scheduled on 18 June 2019. We will increase our estimates, along with a possible upgrade in the stock recommendation.