Tesco PLC (LSE:TSCO) and J Sainsbury PLC (LSE:SBRY) shares received a boost from Asda's latest trading update, with analysts arguing that the struggling supermarket group's continued market share losses underline the resilience of its larger listed rivals. Asda reported first-quarter like-for-like sales down 1.3%, an improvement on the 4.2% decline recorded in the previous quarter but still well short of the stabilisation many investors had hoped for.
Tesco PLC (LSE:TSCO) is expected to report slower first-quarter sales growth next month as the supermarket group laps a period of unusually strong weather-driven demand, according to analysts at Citi. The investment bank trimmed its forecast for the FTSE 100 grocer's UK like-for-like sales growth in Q1 of the current financial year to 2.2% from 4%, below market expectations of about 3%.
Shares in Tesco PLC (LSE:TSCO), the UK's largest supermarket group, and rival J Sainsbury PLC (LSE:SBRY) were barely moved in early trading on Friday despite official data showing retail sales tumbled at their fastest rate in almost a year. The muted reaction comes against a backdrop of mounting political pressure on the sector, with the Treasury pushing major supermarkets to voluntarily cap prices on staples such as eggs, bread and milk in exchange for regulatory relief.
| Consumer Staples Distribution & Retail Industry | Consumer Staples Sector | Ken Murphy CEO | XDUS Exchange | US8815754010 ISIN |
| GB Country | 340,000 Employees | 15 May 2026 Last Dividend | 16 Feb 2021 Last Split | - IPO Date |