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”.

The author: Michel THEYS

Michel Theys, a Belgian native, began his career as a civil servant, serving the public for several decades. After retirement, he shifted gears to follow his passion for journalism. With a background in public administration, Theys brought a unique perspective to his reporting. His insightful articles, covering a wide array of topics, swiftly gained recognition. Today, Michel Theys is a respected journalist known for his balanced and thoughtful reporting in the Belgian media landscape.

Related posts

Leave a Comment