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Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.

#1. Tesco’s – Highest UK market share in 4 years

It’s another busy day for retail updates so we’re kicking off with Tesco [LON:TSCO], who have this morning published their Q3 trading statement covering the 19 weeks to 8th January. The company notes it achieved its highest UK market share in four years and despite rising food price inflation was able to strengthen its value proposition. Ireland was the only weak spot although as the company notes, this came against incredibly tough comparatives after such strong sales for Christmas 2020.

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#2. ASOS set to move to main board of LSE

Fast fashion group ASOS [LON:ASC] issued a trading statement up to 31st December this morning with group sales up 5% in the final four months of the year. Supply chain constrains and limited demand as Christmas parties were cancelled both took a toll here, but the UK market still performed better than expected and company guidance for the full year remains unchanged. The company has also announced its intention to move over to the main board of the London Stock Exchange, which should in turn lead to the company’s inclusion in the FTSE-250.

#3. Sales recovering for the Card Factory but still below pre-pandemic levels

Rounding off with Card Factory [LON:CARD] who published an update for the eleven month period to 31st December. Trading was ahead of board expectations and since stores reopened in April, sales have been trending towards pre-pandemic levels and although still remain some way short of that target, sit very close to the 2018 number. Management have also expressed confidence that sales growth can be maintained from here, with a revenue target of £600m being eyed for FY26

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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