Tesco's UK sales growth slowed to 1.8% in Q1, down from 4.2% previously, citing "ongoing uncertainty for many households" due to the Middle East conflict and higher fuel prices. Despite the slowdown, online sales rose 8.9%, and group sales were up 1% to £16.8bn. The retailer expects to meet annual profit expectations.
Macy's reported its strongest Q1 comparable sales in four years, driven by upgraded stores and a focus on fundamentals. The company raised its full-year guidance, expecting net sales between $21.5B-$21.75B and EPS of $2-$2.20.
Kohl's stock jumped 20% after reporting its best comparable sales performance in four years, with CEO Michael Bender saying the company is 'knocking on the door of growth'
Best Buy reported Q1 revenue of $8.94B, beating expectations, with 2% comparable sales growth driven by gaming, computing, mobile phones, and services, despite appliance sales declines.
Burberry reports 2% comparable sales growth for the fiscal year, driven by 10% growth in Americas and China, with £2.4 billion revenue and £160 million adjusted operating profit, despite challenges in EMEA and India due to Middle East conflict.
