Tesco PLC Stock Surges Amid Market Share Expansion
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Tesco shares climbed 2.93% to 396.60p in Thursday morning trading, buoyed by a strong trading update. The supermarket giant expanded its UK market share to 28%, driven by growth in fresh food and non-food segments. Online sales ROSE 11.5%, while its wholesale arm Booker also reported robust gains.
Despite ongoing price wars in the grocery sector, Tesco maintained its full-year profit guidance and continues its £1.45bn share buyback program. The company''s F&F clothing line launch in May further bolstered its non-grocery offerings.
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