Tesco Lifts Outlook as Sales Gain Amid Easing Inflation
- UK’s biggest grocer says lower prices are attracting shoppers
- Tesco on track to meet £500 million efficiency savings target
Tesco said that it expects to deliver £2.9 billion ($3.8 billion) in retail adjusted operating profit.
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Tesco Plc raised its profit outlook for this fiscal year after Britain’s largest supermarket chain pulled in more shoppers with sharp pricing and discounts.
The grocer said Thursday that it now expects to deliver £2.9 billion ($3.8 billion) of retail adjusted operating profit, nudging up its previous guidance of at least £2.8 billion. Like-for-like sales rose almost 3% in the first half.