Thursday preview: Tesco unveils trading results

9th Jan 2013 14:54

Tesco will be on everyone's lips Thursday as the world's third largest retailer releases a trading update.The supermarket giant was falling 0.80% to 348.65p on Wednesday afternoon ahead of the announcement. That, despite a hike in shares in the lead up to trading results from other major retailers including Sainsbury which boasted it would emerge as a "clear winner" in Christmas sales despite reporting slowed growth over the holidays.However, according to Kantar Worldpanel, Tesco raised its core grocery sales ahead of Sainsbury, Asda and Morrison in the lead up to Christmas. The market researcher said Tesco's cash sales grew 4.2% in the four weeks to December 23rd, confirming the group led the UK majors for the second period running. The grocer saw a 6.7 % jump in food and drink sales. Asda's sales grew 3.7 % while Sainsbury rose 3.3% and Morrison fell 0.6%.TRADING ANNOUNCEMENTS Bwin.party Digital Entertainment, Goals Soccer Centres, Hays, Hilton Food Group, Rathbone Brothers, SIG, Tesco IMS Hilton Food Group, JD Sports, XP Power INTERIM DIVIDEND PAYMENT DATE Caledonia Investments, Creston, Mckay Securities, Morgan Crucible Co, Whitbread QUARTERLY PAYMENT DATE Land Securities Group, XP Power Ltd. (DI) INTERNATIONAL ECONOMIC ANNOUNCEMENTS Spanish and Italian Treasury debt auctions ECB Interest Rate (EU) (12:45) Weekly initial unemployment claims (US) (13:30) Wholesale inventories (US) (15:00) Q4 Sandvine Corp. GMS Capital & Regional FINALS Sandvine Corp. IMSS Marks & Spencer Group EGMS Bridge Energy Asa, NetDimensions Holding Ltd. (DI) AGMS Baronsmead VCT, Baronsmead VCT 2, Cardiff Property UK ECONOMIC ANNOUNCEMENTS MPC policy decision RD