Has Tesco’s grocery business neared its peak?
Tesco’s winning streak of gaining market share faltered in its interim results, despite the grocery giant raising its full-year profit guidance and reporting an increase in sales.
Group like-for-likes rose 1% in the 26 weeks to August 29, with UK sales up 1.5% and 2.4% in its food business. It now expects to deliver an adjusted operating profit between £3.15bn and £3.3bn, compared to £3bn to £3.3bn originally forecast.
Already have an account? Sign in here