Report
Clement Genelot

Tesco: UK budget's extra staff costs eventually positive for competitive environment

With the UK budget for 2025 set to onboard more staff costs for all food retailers o/w GBP460m estimated for Tesco, we remain confident in the group's ability to mitigate the impact with cost-savings while the UK's two laggards, Asda and Morrisons, look set to be squeezed for longer. As the UK groc
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Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Clement Genelot

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