0929 GMT - Tesco shares drop 0.6% after the U.K. grocer reported strong Christmas sales, but stuck to full-year profit guidance. A large part of the U.K. grocer's success is due to discounting, which can spell bad news for margins, Hargreaves Lansdown says. "The tug of war between pricing and volumes is clearly producing a good result, which is why profit expectations have been reiterated, but it's still hardly an ideal state of affairs for the industry's big names," HL analyst Sophie Lund-Yates writes. "The major question now is how supermarket spending will hold up from here. It seems people spent big at Christmas, but this may well mean a pull-back in essential spending in the short to medium-term."(philip.waller@wsj.com)
(END) Dow Jones Newswires
January 12, 2023 04:29 ET (09:29 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。