Overview

• Tesco’s UK like-for-like sales rose 5.1% in the 13 weeks to May 24, while group underlying sales increased 4.6% including Booker and international operations.
• The supermarket’s market share reached 28% after 24 consecutive weeks of gains, driven by value-focused pricing strategies.
• The Clubcard loyalty scheme backed over 9,000 weekly price deals and matched Aldi on more than 600 items to attract budget-conscious shoppers.
• Premium own-brand sales surged as the Finest range jumped 18% amid a rise in home dining trends.
• Despite intensifying price competition likely to shave up to £400 million off profits, Tesco maintained its full-year adjusted operating profit guidance at £2.7 billion to £3 billion.