Tesco sales rise despite 'uncertainty' due to Iran war
- Tesco reported total sales increased 1% to £16.8 billion over the 13 weeks ending May 30, marking modest growth despite Middle East uncertainty affecting consumer spending.
- Ken Murphy, Tesco chief executive, attributed the slowdown to Middle East conflict uncertainty affecting households. UK like-for-like sales rose only 1.8%, below the 2.3% analyst forecast and prior quarter's 3.1% growth.
- Food sales rose 2.6%, with 3.6% growth for Fresh food and a 9% jump across the Finest range. Online sales surged 10.9%, offsetting weakness in UK like-for-like performance.
- Tesco maintained its full-year operating profit guidance of £3 billion to £3.3 billion, aligning with analyst expectations of £3.25 billion for 2026/27.
- Irish operations delivered the strongest performance, with like-for-like sales climbing 3.3% to £838m in the Republic of Ireland, driven by robust Food category growth.
21 Articles
21 Articles
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Tesco says Middle East conflict has hit sentiment but not spending - London Business News
Tesco has warned that heightened geopolitical uncertainty is beginning to weigh on consumer sentiment, although Britain’s largest supermarket group said the conflict in the Middle East has not yet translated… The post Tesco says Middle East conflict has hit sentiment but not spending appeared first on London Business News
Tesco reports Booker sales dip amid weaker retail demand
Sales at Tesco's Booker wholesale arm fell in the latest quarter, with weaker demand from independent retailers and catering businesses reflecting continued pressures on the high street. The decline came as Tesco said the conflict in the Middle East had created "ongoing uncertainty for many households", contributing to a sharp slowdown in UK sales growth.Despite the drop, Tesco stated Booker saw “further progress in customer satisfaction scores …
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