Tesco's trading recovery tempered by pensions cloud
Britain's biggest supermarket group, Tesco (TSCO.L), is expected to report further progress in its recovery next week with a third straight quarter of UK underlying sales growth, although it now faces the burden of a ballooning pension deficit.
The company is forecast to announce a rise in first-half operating profit on Wednesday but will also confirm a significant widening of its pension deficit as a result of falling bond yields following Britain's vote to leave the European Union.
That could delay the resumption of a dividend, unpaid since the second half of its 2014-15 year.
Analysts... read more
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