The UK market begins the day lower as investors are yet to be convinced of a turnaround. The FTSE 100 is trading 0.45% lower, and the FTSE 250 is down 0.56%.
The latest news on Wednesday includes Tesco, Topps Tiles and Halfords.
- Tesco reported its interim results on Wednesday.
- The company saw group sales of £28.18 billion, up 3.1%.
- In addition, adjusted operating profit fell 9.8% to £1.32 billion.
- Despite ongoing challenges, Tesco maintained its profit guidance, as they expect operating profit between £2.4 billion and £2.5 billion.
- Topps Tiles reported a second record year for sales in its Q4 trading update.
- The group’s total sales increased 4.3% for Q4 and jumped 10.6% in its full year to £247.3 million, marking a second consecutive record year.
- Shares of Topps Tiles are up 6.19% following the report.
- Halfords announces its acquisition of LTC Tradomg Holdings for a total consideration of £37.2 million.
- £33.2 million will be paid on completion of the deal, and £4 million paid in FY25, subject to performance.
- The acquisition takes Halfords garage services business to 656 garages.