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The Markets
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Retail

Tesco staves off fly in the ointment over festive period

Tesco PLC (LSE:TSCO) is due to release its financial results for the Christmas trading period and third fiscal quarter on Thursday, 11 January.

Investors will be looking to see how the supermarket fared in the battle of the grocers over the traditionally fruitful Christmas period.

Early data for the month to December was promising, as broker Shore Capital said Tesco had been among the winners highlighted by grocery sales data from Nielsen for the four and a half weeks to 2 December.

By mid-month, festive sales were thrown into doubt after Tesco was plagued by an infestation of moths in its stuffing mix and had to remove the items from sale.

Shareholders can rest somewhat assured.

Sales of other festive products seem to have staved off any flies in the ointment, as preliminary data from research firm Kantar today suggested Tesco held the highest market share of all supermarkets in December of 27.6%, boosting Christmas sales by 7.5% over the year.

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