Inflation drove a 9% increase in underlying UK sales for Britain’s largest retailer, Tesco (TSCO.L).
On Friday, the business, which controls over 27% of Britain’s grocery market, said it still expected flat retail adjusted operating profit, its key profit indicator, in 2023/24.
2022/23 netted 2.49 billion pounds ($3.18 billion).
ON FRIDAY, Tesco CEO Ken Murphy said that rising supermarket expenses might soon ease after a year of strong inflation outpacing pay growth.
“There are encouraging early signs that inflation is starting to ease across the market,” he stated.
