Tesco has announced that it is raising its annual targets at a trading update, as the retailer believes that 'continued investment across its customer offer has resulted in a better than expected trading performance'.

The British group claims retail sales growth of 6.6% for its third accounting quarter (ended November 25), and 6% for its Christmas period (ended January 6), on a like-for-like basis, excluding VAT and petrol.

As a result, Tesco now expects full-year adjusted operating profit of around £2.75 billion, above its previous guidance range of £2.6 to £2.7 billion.

Copyright (c) 2024 CercleFinance.com. All rights reserved.