Company Earnings UpdateTesco (LSE: TSCO) FY19 Results: Hits FY20 Margin Target in Second Half Coresight Research April 11, 2019 Executive Summary Tesco reported FY19 total sales of £63.9 billion, up 11.0% year over year on a constant-currency basis (increasing 11.2% as reported) and missing the consensus estimate of €64.5 billion recorded by StreetAccount. Tesco’s FY19 adjusted operating margin came in at 3.45% versus the company’s long-term aim to hit a 3.5-4.0% margin in FY20. In 2H19, the group operating margin reached 3.96% (3.79% ex Booker). Tesco is focusing on strengthening its balance sheet and delivering free cash flow. It expects a dividend cover level of about two times earnings in FY20. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for Other research you may be interested in: Department Stores in Focus; Plus, Consumer Sentiment Latest: US Consumer Survey InsightsUS Back to School 2025, Part 2: Where Consumers Will Shop—Opportunities with Higher-Income Shoppers, in Retail Media and on TikTokWeekly US Store Openings and Closures Tracker 2025, Week 27: Beauty Brand Miss A Announces Store ExpansionUS Retail—Real Estate Insights: Embracing Small Store Formats, Immersive Experiences and Emerging Technologies
