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Moneyforums
Veteran Investor
Joined: 18 Jun 2004
Posts: 598
Cash Points ££ 250.42
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 Posted: Tue Jan 18, 2005 5:50 pm Post subject: TESCO - The Supermarket giant continues to Grow ! |
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Tesco said sales rose 13 percent in the seven weeks to Jan. 8, with like-for-like sales in the U.K. up 9.3 percent. Like-for-like sales rose 7.6 percent, excluding the impact of petrol, which it said was similar to growth in the third quarter.
Tesco saw price deflation of 1.6 percent in U.K. stores. It said international sales rose 16.1 percent in the period, though it didn't break out like-for-like growth and said there were tough trading conditions in Central Europe.
Tesco said despite higher energy and fuel costs, and adverse foreign exchange movements, it's confident "out-turn" for the year will be in line with market consensus.
"Tesco's excellent Christmas trading has clearly come at the expense of margin, as the cost of market share growth appears to be rising," said Morgan Stanley.
The cautious tone of Tesco's press release and Finance Director Andrew Higginson's comments that the company is budgeting for 3 to 4 percent sales growth in the U.K. this year, "leads us to believe that the shares' recent run will now come to end," said Morgan Stanley.
U.K same-store sales were strong in a slowing industry, but will be seen as a disappointment after market share data last week drove expectations of greater than 10 percent comparable sales growth," said Dresdner Kleinwort Wasserstein, adding "a step up in deflation was a key feature." |
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Neo
Saving Enthusiast
Joined: 24 Oct 2004
Posts: 147
Cash Points ££ 595.04
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| Posted: Sat Jan 22, 2005 4:01 pm Post subject: |
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It's always good to invest in the market leader, which is what Tesco's is.
So I would look to buy on any dips, I made the mistake of holdign morrisons, a valuable lesson learned ! |
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