Tesco will be looking for sales momentum to pick up.
Tesco, Half Year Results, Thursday 8 October Aarin Chiekrie, equity analyst, Hargreaves Lansdown: “Tesco heads into next week’s half-year results on the back of a soft first quarter. Like-for-like sales growth of 1.0% came in a touch below market forecasts, largely due to a tough comparable period and unfavourable weather. But with these challenges easing over the period, sales growth should have picked up, with markets forecasting first-half revenue to rise 3.1% to £37.2bn.
Expect recent market share gains to have continued over the first half, with initiatives such as ALDI Price Match and the expanded Finest range allowing Tesco to compete across a broad range of price points. The group’s enormous scale is a key tool for negotiating hard with suppliers, helping Tesco remain competitive on price while also protecting margins. As a result, investors aren’t expecting any change to its full-year adjusted operating profit guidance of £3.0–3.3bn next week.”
Among those currently scheduled to release results next week:
28 September |
|---|
No FTSE 350 reporters |
29 September | |
|---|---|
A.G. Barr | Half Year Results |
Carnival* | Q3 Results |
Close Brothers Group | Full Year Results |
30 September | |
|---|---|
Greggs | Q3 Trading Statement |
1 October |
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No FTSE 350 reporters |
2 October | |
|---|---|
JD Wetherspoon | Full Year Results |
* Events on which we will be updating investors
Notes to Editors
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