Following yesterday’s black day for retailers – ASOS, Boohoo and Halfords all issued profit warnings – Tesco PLC (LSE:TSCO) shareholders maybe a bit apprehensive this morning.
Tesco PLC is set to update the market and analysts at Barclays predict a 1.8% decline in like-for-like sales for Tesco, albeit this would represent a gain of about 7.3% on pre-Covid levels.
Tesco's Booker cash and carry division is tipped to report a 12.4% increase in like-for-like sales by Barclays.
With Tesco only having provided full-year guidance in mid-April of £2.4bn-£2.6bn retail earnings (EBIT) – the analysts were “doubtful that there will be any change in the outlook at this stage”.
Significant announcements expected
Trading announcements: Tesco PLC
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