LONDON (Thomson Financial) - Tesco PLC finance director Andrew Higginson said financial analysts failed to properly understand the retailer's business model, and that investors should take their views 'with a pinch of salt', according to The Sunday Telegraph.
Andrew Higginson said analysts were often too fixated on producing short-term swings in sentiment, said the report.
Higginson's comments came after Tesco reported a 3.1 pct rise in UK like-for-like sales during the Christmas trading period, a figure that appeared to disappoint some investors. r.jones@thomson.com rj/vs COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
Andrew Higginson said analysts were often too fixated on producing short-term swings in sentiment, said the report.
Higginson's comments came after Tesco reported a 3.1 pct rise in UK like-for-like sales during the Christmas trading period, a figure that appeared to disappoint some investors. r.jones@thomson.com rj/vs COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.