Tesco shares jump as sales continue to recover

Shares in the supermarket giant Tesco have jumped 10% after it reported another rise in sales, and said it would hit its full-year profit target.

Like-for-like sales, which strip out the impact of new store openings, grew 1% in the half-year to 27 August, and in the UK they rose by 0.6%.

The firm said it had made “significant progress” in stabilising the business.

The retailer is still recovering from an accounting scandal as well as reporting a record loss last year.

Tesco’s shares were trading up more than 10% at 208.65p by mid-morning, a 14-month high.

“Whilst the market is uncertain, we have made significant progress against the priorities we set out two years ago, stabilising the business and positioning us well for the future,” Mr Lewis said.

In an interview with the https://leuropeennedebruxelles.com he added: “We are winning back shoppers who may have gone elsewhere. You’ll see in the results that 200,000 more people shopped at Tesco than a year ago”.

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