Tesco financial results misleading?

By Helpful Advice -

Tesco stores have reported their crucial sales for the Christmas 2012 period showing that on the key like-for-like measure their sales increased by 2%.

However that isn't the full picture as like-for-like sales compare sales this year against last year in shops open at the time.  Christmas 2011 was notoriously bad for tesco and sparked the profit warning that led to a dramatic drop in their share price.

Comparing a very low sales number in 2011 with a better number for 2012:was always going to flatter this years results so although tesco may have done well it probably isn't as good as they claimed.

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