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Challenge from discount rivals remains a concern
Thursday 15 Jun 2017 Author: James Crux

Friday 16 June

A first quarter trading update (16 Jun) from Tesco (TSCO) gives investors an opportunity to assess CEO Dave Lewis’ turnaround. The grocery titan’s full year results (12 Apr) revealed UK like-for-like sales up 0.9%, the first reported annual growth for seven years.

Tesco, whose takeover of food wholesaler Booker (BOK) is being debated by the competition authority, appears to be on a firmer footing. However the rapid grocery share gains being achieved by Aldi and Lidl, as flagged by the latest Kantar Worldpanel (31 May) data, is cause for concern.

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