LONDON (Reuters) – Tesco, Britain’s biggest retailer, on Thursday raised its profit outlook for the second time in four months as it reported a rise in Christmas sales despite a tough comparative with 2020 when spending was boosted by a COVID-19 lockdown.
The group said UK like-for-like sales rose 0.2% year-on-year in its third quarter to Nov. 27 year-on-year and were up 0.3% over the six weeks to Jan. 8.
Tesco forecast a full-year 2021-22 retail operating “slightly above” the top-end of its previous 2.5-2.6 billion pound ($3.43-$3.57 billion) range.
($1 = 0.7291 pounds)
(Reporting by James Davey; editing by Michael Holden)