TSCDF - Tesco: Euros And Olympics Should Accelerate Revenues
2024-07-07 04:49:34 ET
Summary
- Tesco PLC maintains flat profit guidance for next year, focusing on sales funneling into Finest for positive mix effect and hoping for some sales acceleration.
- Revenue acceleration expected in coming quarters due to the Euros and Olympics, offsetting negative impact on gross profits from the minimum wage increase.
- They aren't pressing with pricing anymore, not more than 2%, as inflation in the UK abates despite wage increases.
- Euros and Olympics are going to be critical to bridge the gap to guidance, and we'll be watching the H1 for those effects being present.
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Tesco: Euros And Olympics Should Accelerate Revenues