The Guardian 30/09/18

Tesco’s finest hour? Retailer hopes it has cause to celebrate interim results. Investors will expect to see signs that progress is being made in the supermarket giant’s ambitious recovery plan. Chief executive Dave Lewis aims to earn between 3.5p and 4p of operating profit for every £1 that a customer spends by 2020. Some industry observers are cautiously expecting positive news from the UK’s largest supermarket, though this year is seen as a stepping stone for the company. “I think it will be a good update and I think Tesco (TSCO) will be on the front foot,” said Clive Black from Shore Capital. “This is a transition year for Tesco. The business is now on the profit-growth journey. It is paying a dividend once again, but this is really a transition year towards Tesco delivering a target that Dave Lewis set in 2016.”