Supermarket stacks up extra Tees jobs
MORE than 50 new jobs have been created at Tesco’s Coulby Newham store, as a result of a first floor extension, taking total staff numbers to almost 400.
The announcement comes as the UK’s biggest retailer is due to report half-year results tomorrow, providing an interesting insight into consumer confidence.
Store manager, Martin James said: “The new jobs created with the first floor extension will enable more local people to enjoy a successful and fulfilling career with Tesco.”
The UK’s largest supermarket chain surprised the market in June with first quarter growth that was slower than expected.
But with another interest rate increase having hit shoppers since then, analysts are forecasting a further dip in sales growth.
Stockbrokers Panmure is pencilling in Tesco pre-tax profits of £1.11bn, up 9% on last year.
Car parts and cycles retailer Halfords is expected to show that it has ridden out the storm of the recent tough retail market when it gives its latest trading update on Thursday.
The market is forecasting a rise in like-for-like sales of between 5% and 5.5% for the six months to the end of September, resulting in underlying pre-tax profits increasing to £47m, up from £43.3m last year.
Clothing retailer Ted Baker updates the market on Thursday, with analysts’ consensus forecasts expecting flat pre-tax profits for the first half at about £7m.
On Thursday, Marston’s will become the latest pubs group to update the market on its trading performance since the introduction of the smoking ban and the poor summer weather.
Both Mitchells & Butlers and Enterprise Inns have recently reported resilient trading over the summer months.
Analysts are expecting pre-tax profits for the year to come in at £100m compared with £101.5m last year.
Companies also reporting results this week include:
Today: Trading update: Biffa
Wednesday: Finals: Shepherd Neame.
Thursday: Interims: Walker Greenbank
Friday: Trading update: Michael Page International
