Company Earnings Update 6 minutesRegister for Free AccessTesco (LSE: TSCO) FY19 Results: Hits FY20 Margin Target in Second Half Coresight Research April 11, 2019 Executive Summary Tesco reported FY19 total sales of £63.9 billion, up 11.0% year over year on a constant-currency basis (increasing 11.2% as reported) and missing the consensus estimate of €64.5 billion recorded by StreetAccount. Tesco’s FY19 adjusted operating margin came in at 3.45% versus the company’s long-term aim to hit a 3.5-4.0% margin in FY20. In 2H19, the group operating margin reached 3.96% (3.79% ex Booker). Tesco is focusing on strengthening its balance sheet and delivering free cash flow. It expects a dividend cover level of about two times earnings in FY20. Please Login to read the full report. Not a member? Register for a free user account. This document was generated for Other research you may be interested in: Revisiting Dubai Retail: New Developments Paint a Promising Scene in Dubai and the Persian Gulf RegionThree Data Points We’re Watching This WeekMarch 2024 Leading Indicators of US Retail Sales: Growth To Remain in Mid-Single-Digit Range Amid Rising Consumer SentimentEarnings Insights 1Q23, Week 5: Burlington, Deckers, Dick’s and Ulta Post Strong Results; Big Lots, Foot Locker, Kohl’s and Others See Sales Decline
