Tesco admitted yesterday that full year profits could be as much as £150m below expectations as Britain’s biggest supermarket retailer reported another heavy decline in like-for-like sales over the Christmas trading period.
Baker Greggs and FTSE 250 firm The Restaurant Group, owner of the Garfunkel’s and Frankie & Bennys chains, both saw their share prices boosted yesterday after reporting fourth quarter results that beat expectations.
M&S chief executive Marc Bolland yesterday denied that the retailer had sparked this Christmas’s frenzied discounting as the chain’s clothing sales fell for a 10th consecutive quarter.