Blog: Bemusement at investor concern over Tesco
Dean Best | 21 April 2010
'Every little helps' say the ads. Tesco boss Terry Leahy does not tend to give too much away but, yesterday (20 April), as the UK retail giant published its annual results, he gave a few nuggets to the assembled press.
The Tesco chief executive insisted the retailer's core UK food business was "back in the lead", insisted the company would continue to open more stores in the US - and was pretty forthright about arch-rival Asda's plans to expand in non-food.
Analysts gave the numbers a cautious welcome but insisted they had a number of caveats about the results.
Looking at the bigger picture, however, investors need to feel more confident about the breadth of Tesco's business at home and abroad. Yesterday, Tesco's shares were the biggest fallers on the London FTSE.
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