Stock Take
Waning of inflation boosts Tesco and supermarket peers
A significant weakening of inflation over recent months has set the retailer up for a strong year
Tesco last week announced plans for a £1 billion (€1.17 billion) share buyback over the next 12 months, after it reported a 12.8 per cent increase in profits for its financial year to the end of February.
A quarter of that will be funded by a dividend the retailer received from Tesco Bank, its financial arm.
Since October 2021 the grocery giant, led by Corkman Ken Murphy and with fellow Irishman Gerry Murphy in the ...