 Tesco PLC LSE:TSCO and BM European Value Retail BM European Value Retail SA LSE:BME are potential 2023 winners, according to JPMorgan, as European food retailers battle with a changing mix, Covid volume unwinds, down trading and increased costs. Analysts at the US bank believe the low-end grocery retail sector is well positioned to navigate 2023 due to stronger execution, less complacency, more rational markets and an enhanced mix. 