Tesco: Q3 retail sales up 5.7%

(CercleFinance.com) - Tesco has announced that its retail sales increased by 5.
7% in Q3, with a 12.3% increase in Central Europe (its strongest performance for many years), and +5.2% in the UK and Northern Ireland.

In the UK, Tesco maintained a strong market share at 27.5%, becoming the only retailer to increase its market share compared to the pre-pandemic period.

Against this backdrop, Tesco has confirmed its outlook for FY22/23 adjusted operating profit of retail sales of 2.4 to 2.5 billion pounds, with retail free cash flow of at least 1.8 billion pounds.

While seemingly good at first sight, the share is only up about 0.7% this lunchtime, barely outperforming the market in London.


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