Tesco (#TSCO) – 19 weeks to 8th Jan retail sales +2.6%, on 2 year basis +8.2%
- 2022-01-13 07:41:31
Hello Share Makers. Though I’m not sure why folks would regularly shop at Tesco (TSCO) when budget supermarkets can work out cheaper, I rather like the look of the shares. Over the last year, the company’s done rather well and I think the positive trend could continue. The supermarket was already ahead in online sales when the pandemic came along and so was in poll position to take advantage.
I was impressed by a couple of corporate updates today. I wrote about Imperial Brands (IMB) most recently back in May, noting that despite never being a smoker I thought the stock was still a buy. It has hardly romped in recent months - including today - despite what seems to me a pretty good pre-close trading update.
Back in April I wished Tesco (TSCO) CEO “Newbie Ken” the best of luck over the next year or two ‘but I can understand why there are not a bunch of new shareholders buying hard and pushing the share price sharply up’. Since then the shares have stayed nor far either side of 230p. Is there any need to radically change view after today’s first quarter update?
Two FTSE 100 names of interest published an update this morning. First easyJet (EZJ) which noted that the group headline loss for the 6 months ending a couple of weeks ago is expected to be somewhere between £690-730 million. Naturally that is a lot of money but there were even worse losses feared by some analysts.