retailworld
15-01-2008, 13:14
Tesco revealed this morning that its Christmas sales came in below forecasts – but let's not get carried away...
The UK’s biggest retailer saw like-for-like sales increase by 3.1% in the six weeks to January 5 – below analysts’ predictions (they were expecting about 4%), below its third quarter figure (4.1%), and below the figures recorded by rivals Sainsbury’s and Waitrose (3.7% and 4.1% respectively).
This immediately prompted speculation that the retail behemoth has lost market share to Morrison’s (apparently the big retail winner this Christmas, although it doesn’t report its results until next week) and led to a drop of about 5% in its share price.
Full report from Management Today can be found here (http://www.managementtoday.co.uk/newsalerts/article/776570/tesco-fuels-high-street-jitters/?DCMP=EMC-Daily%20News)
How did your business fare over Christmas? How was the high street effected?
The UK’s biggest retailer saw like-for-like sales increase by 3.1% in the six weeks to January 5 – below analysts’ predictions (they were expecting about 4%), below its third quarter figure (4.1%), and below the figures recorded by rivals Sainsbury’s and Waitrose (3.7% and 4.1% respectively).
This immediately prompted speculation that the retail behemoth has lost market share to Morrison’s (apparently the big retail winner this Christmas, although it doesn’t report its results until next week) and led to a drop of about 5% in its share price.
Full report from Management Today can be found here (http://www.managementtoday.co.uk/newsalerts/article/776570/tesco-fuels-high-street-jitters/?DCMP=EMC-Daily%20News)
How did your business fare over Christmas? How was the high street effected?