Tesco PLC Stock Price Falls as Consumer Confidence Slumps Before April Results
Tesco shares fell 1.6% to 455.1 pence Thursday after data showed UK household sentiment at a two-year low. The retailer is set to report full-year results April 16, with analysts expecting £3.096 billion in adjusted operating profit. Tesco’s market share rose to 28.7% in recent months, but the company faces rising staff costs and pressure from weak consumer confidence.