Tesco’s turnaround plan is beginning to take hold as the supermarket chain is expected to report its first quarter of positive sales in more than three years this week.
Analysts predict a 0.8% increase in like-for-like sales – food and non-food – for the three months to February 29. Operating profit is expected to be £932m.
Shares at the supermarket have jumped by more than a quarter since the appointment of Dave Lewis as chief executive in September 2014 following the profit overstatement scandal at the business, according to The Sunday Times. Shares closed at 190.55p on Friday, valuing Tesco at £15.5bn.