Tesco Reports Strong Sales Growth and Raises Profit Forecasts

The UK supermarket giant sees increased market share and demand for premium products as inflation pressures ease.

Tesco has lowered prices on thousands of products as inflationary pressures subside, aiming to offer competitive value to customers.
The supermarket's market share has grown to 27.8%, marking its strongest position since January 2022.
Tesco's adjusted operating profit for the first half of the year increased by 16% to £1.6 billion, with full-year profit expectations raised to £2.9 billion.
Sales of Tesco's Finest premium range rose by nearly 15%, reflecting a shift in consumer preference towards higher-quality products.
The retailer's Clubcard loyalty scheme now covers 23 million households, contributing to significant savings for customers and boosting sales volumes.