Company Earnings UpdateTESCO (LSE: TSCO) FY18 Results: Profits Surge as Turnaround Efforts Continue Coresight Research April 12, 2018 Executive Summary Tesco announced a net profit of £1,208 million for FY18, representing a significant rebound from last year’s loss of £54.0 million. Revenues increased by 2.8% to £57,491 million. Statutory operating margin expanded by 140 basis points to 3.2%. The company said that it is on track to reach its previously announced target of an operating margin of 3.5%–4.0% by FY20. UK comparable sales were up by 2.2% during the year. Tesco said that there was consistent strength in fresh food, while there was a 0.4% drag from general merchandise. Diluted EPS was 14.7 pence compared to a loss per share of 0.5 pence last year. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for Other research you may be interested in: Retail Crime and Shrink: More Shoppers Say No to Locked-Up Merchandise; Self-Checkout Gets a MakeoverFive Ways Brands and Retailers Can Use AI/ML and Shared Data to Energize End-to-End Product ManagementFive Ways AI Is Being Used in Apparel and Footwear Retailing—and What’s NextHigher-Income Sentiment Declines; Holiday Shopping Lull Before a Promotional Surge: US Consumer Survey Insights
