LONDON, March 12, 2026, 19:56 GMT
Tesco PLC ended Thursday up 1.45% at 475.5 pence, after tacking on 6.8 pence by the session’s finish, according to the company’s website.
London stocks slipped further, pressured by oil’s climb toward the $100 mark and renewed nerves over inflation. “The longer the disruption goes on, the greater the impact on energy prices and in turn global inflation,” said Danni Hewson, head of financial analysis at AJ Bell. Reuters
Investors are eyeing Tesco with annual earnings on the docket for April 16, according to market calendar data. Shares have climbed 7.6% since Jan. 1.
Tesco back in January put its adjusted operating profit—the key figure for underlying trading—at the upper end of its £2.9 billion to £3.1 billion guidance following post-Christmas results. “Competition is as intense as ever,” Chief Executive Ken Murphy said at the time. Reuters
Backing up that confidence, Tesco grabbed more market share. In the 12 weeks to Feb. 22, sales climbed 4.5%, according to Worldpanel by Numerator on March 3, pushing Tesco’s slice of Britain’s grocery market up to 28.7%. Sainsbury’s picked up ground too, but Asda slipped.
Tesco isn’t letting up. According to people with knowledge of the matter, the company told suppliers last month it’s aiming to reclaim a 30% share of the UK grocery market—levels not reached since 2013—as discount rivals have kept up the pressure on prices.
Signals from peers came in varied on Thursday. John Lewis Partnership reported a 6% increase in full-year profit and a 7% bump in Waitrose sales. Even so, the group flagged caution for trading in 2026/27, citing a tough macro environment.
Tesco faces that same risk. Back in January, Murphy described consumer sentiment as “mixed”—some families are managing, but plenty are “counting every penny.” If pressure from energy and food prices sticks around, the grocer could be forced to push harder on pricing just when investors are counting on stable profits. Reuters
