Black Friday weekend added £1 billion in value for Tesco – London Business News | Londonlovesbusiness.com

New data from investment data platform Stocklytics.com shows that Tesco, the UK’s largest retailer, added £1 billion in value over the Black Friday weekend. This amount would pay for over 36,000 delivery drivers a year.

As of market close on 2nd December 2024, Tesco was valued at £24.6 billion, a whole £1 billion more than it did on 23 November.

In fact, it’s increased in value by nearly £1.5bn since 16 November, where it was valued at £26.26 billion. This represents a 4% value increase in just over a week.

The world’s largest retailer, Amazon, saw its value increase over 6.5% from £1.65 trillion to £1.76 trillion, a £110 billion rise in the same period.

Neil Roarty, analyst at Stocklytics.com said, “Consumers have fully embraced the thanksgiving sales in the UK and it’s a bigger and bigger event in the high street calendar each year.”

“This data shows how crucial Black Friday has become for companies across the globe as it is a huge money spinner for them, not just in terms of revenue, but also for investors and their returns.”