Tesco will be among the big names to update the market next week.
The update on Thursday will provide an insight into how Britain’s largest supermarket fared in the run up to Christmas.
Rivals Aldi and Lidl saw bumper festive trading as shoppers looking for bargains flocked to the discounters.
Alongside its closest rival Sainsbury’s, Tesco was the only traditional supermarket to gain market share over the 12 weeks to December 24, according to industry data provider Kantar published this week.
Tesco continued its reign at number one after sales hit £10billion for the first time during the 12-week period. Market share ticked up to 27.6 per cent from 27.5 per cent a year earlier.
Analysts are not expecting any negative news regarding profit expectations after the group bumped up its annual forecast in its last update to investors back in October.
Tesco had said its trading was better than anticipated as sales increased 7.8 per cent over the six months to August 26, compared with the same period a year earlier. It was at this point the group said it was expecting elevated annual profits of between £2.6billion and £2.7billion.
It had previously steered towards a £2.5billion figure.
And shares have increased 25 per cent over the past year.
Sophie Lund-Yates at broker Hargreaves Lansdown, said: ‘The stiffer competition is worth noting, but the record numbers from the discounters also point to the fact consumers are willing to show up and spend if the proposition’s right.’
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