Tesco Narrows Profit Outlook to Higher End of Range

By Aimee Look

Tesco narrowed its adjusted operating profit outlook for the year to the higher end of its guidance, expecting further momentum after a rise in sales for the first fiscal half.

The British supermarket chain on Thursday said it was expecting adjusted operating profit to be 3.15 billion pounds to 3.30 billion pounds for the full fiscal year, or $4.16 billion to $4.36 billion.

It had previously expected the lower end of the range to be 3 billion pounds.

The group also will increase the size of its share buyback program for the fiscal year, to 950 million pounds from 750 million pounds.

It posted adjusted operating profit at 1.78 billion pounds for the half, up from 1.67 billion pounds the year-prior period. Analysts had expected adjusted operating profit at 1.72 billion pounds, according to estimates compiled by Visible Alpha.

Pretax profit rose 11.5% to 1.46 billion pounds, Tesco said.

Tesco reported first-half revenue--excluding tax--of 37.35 billion pounds compared with 36.04 billion pounds the same period last fiscal year.

Write to Aimee Look at aimee.look@wsj.com

(END) Dow Jones Newswires

October 08, 2026 02:44 ET (06:44 GMT)