Tesco upgrades profit guidance after ‘stronger performance than expected’
Tesco has upgraded its full-year profit guidance and said continued investments in its customer offer have resulted in a “stronger trading performance than anticipated”.
The supermarket saw a 6.9% increase in like-for-like sales in the 19 weeks to January 6, covering its third quarter and Christmas trading.
It posted a 9.2% rise in like-for-like sales in the four weeks to Christmas, while its market share in the UK grew by 15bps to 27.9%.
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