Rolling coverage of the latest economic and financial news
Here we go! Tesco’s Christmas results have just landed in the City, and it has slightly lifted its profit forecast for this year.
Chief executive Ken Murphy declares he is “delighted with the strong Christmas we delivered for our customers”.
Our investments in value, quality and service drove further gains in customer satisfaction and strong growth in fresh food, contributing to our highest UK market share in over a decade.
The festive boost was driven by a sharp rise in evening and night-time visits, up +5.3% after 5pm, as shoppers increasingly combined retail with dining, leisure, and socialising. High streets led annual growth (+2.0%), followed by retail parks (+1.2%) and shopping centres (+0.1%), reinforcing the role of experience-led trips in driving footfall.
Boxing Day was the standout trading day, recording its strongest performance in a decade. Footfall rose +4.4% year on year across all retail destinations, with evening visits up almost +10%, underlining how post-Christmas trading is shifting away from purely transactional shopping towards social and experiential activity.
Continue reading…Rolling coverage of the latest economic and financial newsHere we go! Tesco’s Christmas results have just landed in the City, and it has slightly lifted its profit forecast for this year.Chief executive Ken Murphy declares he is “delighted with the strong Christmas we delivered for our customers”.Our investments in value, quality and service drove further gains in customer satisfaction and strong growth in fresh food, contributing to our highest UK market share in over a decade.The festive boost was driven by a sharp rise in evening and night-time visits, up +5.3% after 5pm, as shoppers increasingly combined retail with dining, leisure, and socialising. High streets led annual growth (+2.0%), followed by retail parks (+1.2%) and shopping centres (+0.1%), reinforcing the role of experience-led trips in driving footfall.Boxing Day was the standout trading day, recording its strongest performance in a decade. Footfall rose +4.4% year on year across all retail destinations, with evening visits up almost +10%, underlining how post-Christmas trading is shifting away from purely transactional shopping towards social and experiential activity. Continue reading…
