Britain's Tesco Warns Profit to Fall as Competition Intensifies
Tesco, Britain's biggest food retailer, warned on Thursday its profit would likely fall this year, blaming increased "competitive intensity" in the UK market and sending its shares down more than 7%.
The group, which has a near 28% share of Britain's grocery market, said it expected to make adjusted operating profit of between 2.7 billion and 3.0 billion pounds ($3.5-$3.9 billion) in the year ending February 2026. That compares with 3.13 billion pounds in 2024/25, which was up 10.6% on the prior year.
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