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Tesco and Sainsbury’s report strong holiday sales growth, raising earnings forecasts amid discount competition.
Tesco and Sainsbury’s are releasing festive trading updates, with Tesco aiming to exceed last year’s 3.7% sales growth amid competition from discounters, while Sainsbury’s reported 2.7% overall growth despite strong grocery sales.
Both raised earnings guidance, with Tesco targeting £2.9–3.1 billion and Sainsbury’s over £1 billion.
Next expects around 7% full-price sales growth, and Marks & Spencer is recovering from a cyber attack that disrupted online sales.
Greggs will report on Thursday, with analysts watching for signs of recovery after a profit warning.
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Tesco y Sainsbury's reportan un fuerte crecimiento de las ventas de vacaciones, elevando las previsiones de ganancias en medio de la competencia de descuentos.