Lfl growth in the Christmas sales came in at 1.1% across the group and 0.7% in the domestic market vs. 2.9% for Morrisons. Over Q3, sales progressed by 1.5% on a lfl basis and by 6.5% on an actual rate, backed by the international operations (double-digit growth). The latter benefited from the collapse in the pound. Tesco reiterate its EBIT guidance of £1.2bn (slightly higher than our estimated figures).
12 Jan 2017
Struggling outside the modest UK
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Struggling outside the modest UK
Tesco PLC (TSCO:LON) | 289 -6.6 (-0.8%) | Mkt Cap: 20,350m
- Published:
12 Jan 2017 -
Author:
Ranya GNABA -
Pages:
2
Lfl growth in the Christmas sales came in at 1.1% across the group and 0.7% in the domestic market vs. 2.9% for Morrisons. Over Q3, sales progressed by 1.5% on a lfl basis and by 6.5% on an actual rate, backed by the international operations (double-digit growth). The latter benefited from the collapse in the pound. Tesco reiterate its EBIT guidance of £1.2bn (slightly higher than our estimated figures).