London · Delayed Price · Currency is GBP · Price in GBX Tesco Earnings Call Transcripts
Fiscal Year 2026
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Strong sales and profit growth exceeded guidance, with market share at a decade high and robust free cash flow. Upgraded cash flow guidance and continued investment in price, quality, and digital innovation position the business for sustainable growth despite ongoing market uncertainty.
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Group like-for-like sales rose 2.9% over 19 weeks, with strong U.K. and online growth, record market share, and robust fresh food and premium range performance. Profit guidance was raised to the upper end, supported by value investments, innovation, and disciplined capital allocation.
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Group sales rose 5.1% year-over-year with strong growth across all segments, driving a 1.6% increase in adjusted operating profit and continued market share gains. Upgraded full-year profit guidance reflects robust customer response, cost control, and ongoing investment in value, quality, and digital innovation.
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Strong like-for-like sales growth and market share gains were delivered across all regions, with robust performance in food, non-food, and online channels. Inflation and cost headwinds persist, but cost-saving initiatives and competitive pricing are supporting momentum.
Fiscal Year 2025
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The meeting reviewed strong sales and profit growth, increased dividends, and major share buybacks. Strategic focus included customer value, colleague investment, and sustainability, while shareholders raised questions on health, ethics, and risk. Voting on 23 resolutions concluded, with final results to be published.
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Delivered strong sales and profit growth, record market share, and high customer satisfaction, supported by investments in value, quality, and digital. Guidance for the year ahead reflects flexibility to respond to competitive pressures and maintain market share.
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Record Christmas sales and highest UK market share since 2016 were achieved, driven by value, quality, and service investments. Profit guidance and cash flow targets were reiterated, with volume growth leading sales and strong performance across all segments.
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First-half results showed 4% group sales growth and a 10% rise in adjusted operating profit, driven by strong volumes, market share gains, and continued investment in value and quality. Guidance for the year was raised, with robust cash flow and margin expansion supported by cost savings and digital innovation.
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Strong Q1 performance with volume growth in all core markets, market share gains, and premium product growth. Inflation is easing, guidance is reiterated, and new initiatives like Marketplace and acquisitions support future growth.
Fiscal Year 2024
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The meeting highlighted strong financial growth, increased dividends, and major strategic moves such as the sale of banking operations to Barclays. Shareholders raised questions on pay, sustainability, and community impact, with the board emphasizing ongoing investments in people, technology, and ethical standards.