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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Tesco Plc | LSE:TSCO | London | Ordinary Share | GB00BLGZ9862 | ORD 6 1/3P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2.40 | 0.76% | 318.10 | 318.00 | 318.10 | 318.60 | 314.10 | 314.70 | 2,573,640 | 15:25:04 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Grocery Stores | 68.38B | 1.19B | 0.1701 | 18.63 | 22.05B |
From Jul 2023 to Jul 2024
By Michael Susin
Tesco upgraded its fiscal 2024 guidance for the second time after it saw stronger-than-expected volume growth in the U.K. market during Christmas.
The U.K. grocer on Thursday said it expects retail adjusted operating profit--the company's preferred metric, which strips out exceptional and other one-off items--for fiscal 2024 of around 2.75 billion pounds ($3.50 billion). This compares with previous guidance of range of GBP2.6 billion to GBP2.7 billion.
Bank adjusted operating profit guidance remains unchanged at between GBP130 million and GBP160 million.
Like-for-like retail sales rose 6.4% on year in the 19 weeks ended Jan. 6. They rose 6.6% in the third quarter and 6.0% over the Christmas period.
In the U.K., Tesco's like-for-like sales rose 7.5% in the 19-week period, while in Central Europe they fell 0.3%.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
January 11, 2024 02:29 ET (07:29 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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