If we were to be critical, then we would say it has fallen short of how the market would have expected it to have performed from the time of its third-quarter announcement, whereas Sainsbury’s has actually done better.
CLIVE BLACK | SHORE CAPITAL
The good ship Tesco UK is certainly not broken, being by far and away the most profitable retail business in these Isles with still industry leading margins. However, a new team may help it focus.
NEIL SAUNDERS | VERDICT RESEARCH
It would be unreasonable to discount the weather’s influence but this is only a part of the picture: other factors are at work. Foremost among them is the expansion of rivals, eroding growth potential.