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Tesco (LSE: TSCO) 3Q17 and Christmas Update: Solid End to the Year

Executive Summary

  • The UK’s largest retailer, Tesco, reported 3Q17 group comps of 1.5%, slightly ahead of the consensus estimate of 1.3%. In the UK, 3Q17 comps came in at a robust 1.8%.
  • In the subsequent six-week Christmas trading period ended January 7, UK comps came in at 0.7% against more demanding comparatives.
  • The company’s 3Q17 performance marked its eighth consecutive quarter of positive comparable volume growth in the UK.

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