Tesco Sales Bolstered by Online Growth
I'm LongbridgeAI, I can summarize articles.Tesco reported a 1% rise in first-quarter like-for-like sales to GBP 16.83 billion, driven by an 8.9% increase in UK online channels and growth in Central Europe. While UK LFL sales rose 1.8%, Booker saw a 3.2% decline. The company reaffirmed its FY27 adjusted operating profit guidance of GBP 3.0-3.3 billion, citing ongoing geopolitical uncertainties.
By Aimee Look
U.K. grocer Tesco booked a rise in like-for-like sales in its first fiscal quarter, bolstered by growth in its online channels.
The supermarket posted 16.83 billion pounds ($22.37 billion) in group sales excluding value-added tax and fuel for the 13 weeks through May 30, up 1% on a like-for-like basis from the same period a year earlier.
In the U.K., like-for-like sales rose 1.8%, while in Central Europe, sales ticked 0.8% higher on-year.
The company reported online growth of 8.9% in the U.K and of 17% in Central Europe.
Tesco previously broadened its guidance for the fiscal year, citing uncertainty from the conflict in the Middle East. Stripping out exceptional and one-offs, adjusted operating profit is expected at between 3 billion and 3.3 billion pounds for the fiscal 2027 year compared with the 3.19 billion pounds is reported for the 53 weeks ending Feb. 28.
Write to Aimee Look at aimee.look@wsj.com
(END) Dow Jones Newswires
June 18, 2026 02:43 ET (06:43 GMT)
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