FX.co ★ Tesco Q3 Retail LFL Sales Exc. VAT, Exc. Fuel Up 2.8%; Christmas Sales Up 3.8%

Tesco has announced its financial performance for the third quarter, revealing a 2.8% increase in retail like-for-like sales, excluding VAT and fuel. This quarter encompasses the 13 weeks leading up to November 23, 2024. Furthermore, during the Christmas period, spanning the six weeks ending on January 4, 2025, these sales figures saw a notable rise of 3.8%. Overall, for the 19-week period, retail like-for-like sales, excluding VAT and fuel, experienced an uplift of 3.1%.

Looking ahead, Tesco maintains its forecast to achieve a retail adjusted operating profit of approximately £2.9 billion for the 2024/25 fiscal year, consistent with their updated guidance. Additionally, the Group anticipates that retail free cash flow will fall within the medium-term guidance range of £1.4 billion to £1.8 billion.